Xact Expat is a trading name of Xact Risk Solutions Limited.
About Xact Risk Solutions
Background & Development
Our Business Model
Classes of Business
- Authorised by UK Financial Conduct Authority in May 2013
- Fully accredited Lloyd’s Broker July 2013
- Operational September 2013
- Two Offices – City of London (in the near vicinity of Lloyd’s) and Newcastle.
- Fully staffed from January 2015
- Staff numbers 13
- Sponsoring underwriters for Lloyd’s approval: Kiln, Chaucer and Sagicor/Amtrust
- Privately owned by management and two clients (minority shareholding).
- 74 terms of business agreements with Lloyd’s syndicates and other London market insurers.
- Over 200 years of insurance experience of the London and international markets including the US, Bermuda and others.
- Annual premium volume + £42/45,000,000
- Clients in 20 countries on 5 continents
- 40% of business UK 60% international
- Obtained Xchanging trading licences in October 2013
- Became a Lloyd’s coverholder in January 2015
Our Business Model
- 90% of business placed into the Lloyd’s market
- Almost 100% wholesale – we do not deal with insured’s direct on any risks other than International Private Medical Insurance.
- 85/90% of our business is the arrangement of : Binding authorities for brokers and underwriting agencies (75%), Master policies and schemes (20%) and,
- Open market/individual placements (5%)
Classes of Business
- SME Property , Casualty and Commercial Combined
- Specialist Professional Indemnity
- On-line facilities
- Income Protection/Personal Accident/Loss of Licence
- International Private Medical
- Kidnap and Ransom/Piracy/Hijack
- Life – distressed (medical issues), hazardous occupations, top up covers for group schemes with minimal underwriting
- Comprehensive Motor (International in selected countries)
- Credit card enhancement schemes – travel, purchase protection
- Aquaculture
- Terrorism