Amiga Specialty has secured £25m of Lloyd’s capacity with global licensing for its new yacht division. The managing general agent says its focus will be on markets in the US, Southeast Asia and Europe as it seeks to develop its marine proposition.

Jason Stephenson, managing director – Yachts at Amiga Specialty, said: “Securing Lloyd’s capacity is an exciting and important milestone for our yachts business. It provides us a strong platform from which to support brokers and clients internationally, backed by exceptional capacity and a specialist underwriting proposition.”

He added: “With Amiga Specialty’s growing presence in Hong Kong, we are well positioned to deliver responsive, targeted solutions across these important markets.”

Amiga Specialty was established last year and is headquartered in London. It is financially backed by BP Marsh and provides cover in sectors including transactional risks, management liability, financial institutions and professional indemnity.