Qubit, a specialist managing general agent (MGA) focusing on digital asset risks, has been approved as a Lloyd’s of London Coverholder by Canopius for digital asset insurance in Asia Pacific.
This partnership establishes Qubit as the first and only domestic carrier in the Hong Kong market to offer products with the financial security of Lloyd’s of London, rated ‘A+’ by AM Best and ‘AA-‘ by Standard & Poor’s, and highlights its expertise and position in the crypto market.
This is the first time Canopius has partnered with another company to offer digital assets insurance in Asia Pacific, Qubit highlighted.
Helen Ye, CEO of Qubit, commented: “Achieving Coverholder status from Lloyd’s is a milestone for Qubit. Distributing products on behalf of Canopius, long recognised as a market leader for innovation, is a further testament to the great strides we have made as a business.
“This approval positions us to better meet the needs of the market and reflects Qubit’s dedication to the industry. Our new status will allow us to extend market leading insurance coverage to various participants in the digital asset space, including custodians, exchanges, and investment managers.”
Nicholas Edwards, Head of Specie at Canopius, stated: “We pride ourselves on innovation and developing solutions that address the needs of clients across the world. Endorsing Qubit as a Coverholder aligns us with a partner who shares this dedication to understand the risks clients face and to deliver tailored solutions to mitigate them.”
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