Project Marlin, the $600mn facility owned by Aon Benfield will start operations after it won backing from six Lloyd’s insurers. Insurers who have expressed support in Project Marlin include Travelers, Barbican, Neon, Hiscox and StarStone. The operation is run by MS Amlin and will contribute 15% to Aon Benfield’s Latin American business. The launch of the operation has been hit by delays as it was initially planned to go live in January of this year. Subject premium has also been reduced from $700mn to $600mn as the deal with the Lloyd’s insurers excludes aviation, fidelity, surety, life and personal accident.
