Aon specialist underwriter closes to new business.
SLE Worldwide, the contingency insurer owned by Aon, will cease writing new business at the end of the month. Aon Underwriting Managers confirmed that SLE Worldwide, a specialist unit providing underwriting services to the sport, leisure and entertainment industries, would be closed to any new business and the renewal of existing policies as of the 30 September. A spokesperson for AUM, said: “In recent years the market place has become increasingly competitive and with an increasing number of insurers moving into the sector, SLE’s business model is no longer sustainable. A number of alternatives to the proposed closure were considered, but none has proved viable. It is proposed that a number of underwriters will be retained to manage the run-off until expiry.” It is understood 11 staff will be redeployed under the move.
