Neon Underwriting syndicate quits Lloyd’s of London

Neon Underwriting’s Lloyd’s of London syndicate has been put into run off by its parent company the American Financial Group (AFG).

The specialty insurer becomes the latest Lloyd’s of London syndicate with marine business lines to quit the market.

The decision was made by AFG based on Neon’s earnings' forecast for 2019 and 2020.

In a statement AFG said: “After review of Neon’s anticipated results for 2019 and its 2020 prospects, AFG has determined that Neon will not meet AFG’s return expectations.”