Neon Underwriting placed into run-off
Neon's parent company American Financial Group has decided to exit the Lloyd's market.
Lloyd’s managing agent Neon Underwriting has been put into run-off by its parent company, American Financial Group (AFG).
This follows a decision by AFG to exit the Lloyd’s of London insurance market in 2020, and the business has now initiated actions to place its Lloyd’s subsidiaries into run-off.
According to a statement, AFG will work with Neon and Neon’s regulators to ensure that the business continues to meet its obligations to policyholders and achieves an orderly run-off of operations.
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