Klapton launches its new global online insurance sales platform under the brand name KlaptonOnline, at www.klaptononline.com. KlaptonOnline offers Combined Liability Policies (both Public Liability and Professional Indemnity) for SME businesses across a range of practices including Cosmeticians and Hairdressers Therapists Personal Trainers and Instructors Teachers and Educators Nurses. KlaptonOnline also offers a Health Cash Back […]
Credit rating received from Global Credit Rating
The Board were pleased to announce that Klapton had received its first credit rating of B- (stable), international scale, from the South African agency Global Credit Rating (GCR), part of the Carlyle Group. Shay Reches, the CEO of Klapton commented “This is an historic moment for Klapton as it provides the Company with a market-accredited […]
2015 financial statements published
Klapton Insurance Company Limited concluded the regulatory audit of its 2015 financial statements by the OFA (Anjouan Offshore Finance Authority) and published its statements, after the final approval by Klapton’s board of directors. The Board is pleased to announce the 2015 results for Klapton which show another profitable underwriting result, together with a bottom line […]
The effects of BREXIT on Klapton
The results of the referendum and the change of leadership of the Government in the UK could have financial impacts on Klapton Insurance Company Ltd. Klapton holds an excess of liabilities over assets which are denominated in GBP but reports its results in EUR. BREXIT has had a significant impact on the exchange rate of […]
Klapton launches a new surety product: CoCo Bonds Investors Guarantee
Klapton Insurance Company Ltd (“Klapton”) lauched its newest surety product, aimed to protect CoCo Bonds investors. A contingent convertible bond (CoCo), also known as an enhanced capital note (ECN), is a fixed-income instrument that is convertible into equity if a pre-specified trigger event occurs. The concept of CoCo has been particularly relevant in the context […]
Klapton sign consultancy agreement with David Jones-Cooper
Klapton CEO, Shay Reches confirmed that Klapton had signed an agreement with David Jones-Cooper to provide consultancy service to develop the sureties and insurance business in the mining and gold trade industries. Mr Reches commented “Klapton is becoming increasingly involved in the sureties/insurance provision in these markets and David has considerable knowledge and contacts and […]
Klapton has been approved for debentures issuing
The OFA (Anjouan Offshore Finance Authority) has issued a permit to Klapton Insurance Company to issue a public offering of debentures. The Board said this now provides the capability for Klapton to consider raising capital via debenture issuance in the African market. This issuance is expected to be launched in 2017, dependent upon prevailing market […]
The FCA concluded its findings regarding 2011-2013 PI schemes in the UK
The FCA (the UK Financial Conduct Authority) published its final findings in regard to the Solicitors Professional Indemnity Scheme in 2011-3, which also involved the collapse of two insurers (European Risks Insurance Company – an Icelandic insurer and Millburn Insurance Company), and the cessation of operations of Balva (a Latvian insurer). Klapton, which acted as […]