Patrona Underwriting Limited (Patrona) is delighted to announce that capacity provider Alwyn Insurance Company Limited (Alwyn) (Gibraltar), has been assigned a Financial Strength Rating of A+ (Superior) and a Long-Term Issuer Credit Rating of “aa-” by A.M. Best.
 
Alwyn, founded in late 2011, is licensed to write motor, property and liability lines of business and provides capacity to recognized lead insurers, broker groups and managing general agents in the European insurance market. Alwyn is wholly owned by Arch Reinsurance Ltd and is part of Arch Capital Group Ltd which also holds a Financial Strength Rating of A+ (Superior). Alwyn will continue to build its business with established counterparties that have proven track records, well-established rates, robust management information systems and superior claims handling abilities.
 
Alwyn provides the capacity for Patrona’s successful Flexi-Car propositions and is a substantial capacity deal with the positive benefit of bringing more choice to the Irish market. The Alwyn underwriting of the Patrona Flexi-Car product commenced on the 1st December 2016.
Patrona Underwriting was founded in 2012 as a managing general agent giving their broker panel access to new markets primarily in the motor market to date. Patrona deals exclusively through retail brokers throughout Ireland and their presence has been welcomed by those brokers through increased levels of support in the five years since the company’s foundation. 
 
Tony Wright CEO of Patrona commented, “This is great news for Alwyn, we had expected that the rating would be strong so we are delighted with the A+ rating which is by far the best. We look forward to expanding our product offering with Alwyn over the coming months, giving our broker panel much needed capacity to offer products to their clients”.
 
Patrona Underwriting Limited is regulated by the Central Bank of Ireland. Alwyn Insurance Company Limited is regulated by the Gibraltar Financial Supervision Commission in Gibraltar and is regulated by the Central Bank of Ireland for conduct of business rules.