Same-day payout

On 9th January 2021 Sriwijaya Air Flight 182 tragically crashed shortly after take-off, killing all 62 people on board. We were immediately aware of our exposure to this incident, and paid our proportion of the claim, being USD465,000, overnight on the day of receiving the settlement request. This was far quicker than those in the Lloyd’s or LIRMA markets, which required five working days going through the XCS process before making payments. This is an internal system which Lloyd’s uses for facilitating payments of both claims and premium. As we are not affiliated with Lloyd’s or LIRMA, we do not have to follow their financial requirements when processing premium or claims.