Neon establishes Italian marine joint venture

Specialist Lloyd’s underwriter Neon has launched Neon Italy in partnership with locally based marine broker Cambiaso Risso, which will have a minority shareholding in the venture. Based in Genoa, Neon Italy will initially target Hull and Cargo business placed locally. Neon Italy will be led by Sergio Revello, who has extensive experience in the international marine sector across both broking and underwriting roles, including on behalf of Lloyd’s syndicates. The board of directors includes Neon Group CEO Martin Reith and Mauro Iguera, CEO of Cambiaso Risso.

It is intended that Neon Italy will start writing business from January 1st 2018. Neon Italy will, subject to approval, be regulated by IVASS and become a Lloyd’s approved coverholder writing on behalf of Neon’s syndicate 2468.