Chiyoda to run-off London reinsurance operation

Chiyoda Europe has ceased underwriting London market reinsurance business and has announced that it i...

Chiyoda Europe has ceased underwriting London market reinsurance business and has announced that it is to put the portfolio in to run-off.
The Japanese owned business will focus on increasing its links with Toyota and expanding its UK primary business, including its direct motor business Hastings Direct.
"We are appreciative of the loyal support that the London market reinsurance brokers have given us over many years but we have decided to concentrate on our insurance business which we have been developing in recent years," said David Titterington, director of UK underwriting at Chiyoda Europe.
Chiyoda ceased underwriting London market reinsurance business on 30 September.
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