ITOCHU Corporation announced that it has formed a business alliance with Antares Managing Agency Limited to launch an underwriting business at Lloyd's by underwriting reinsurance from the syndicate. This is the first launch of an insurance underwriting business at Lloyd's in London by a non-financial sector company in Japan. Through the alliance with AMAL, ITOCHU will acquire insurance underwriting techniques as well as know-how and expertise in sales, facilitating the full launch and expansion of its insurance underwriting business.

Starting in the coming spring, ITOCHU will dispatch staff to AMAL and gradually step up collaboration to jointly execute an overseas insurance business. In the Lloyd's market, diversification of capital and human resources and growth in the ratio of underwritten risks from Asia and emerging countries are already underway. ITOCHU's entry into Lloyd's coincides with this.