Lottoland gets approval for own insurance firm
The Lottoland Group has announced the establishment of their own insurance firm, Fortuna Insurance PCC Limited, receiving their insurance licence in Gibraltar from the Financial Services Commission.
In a statement, Lottoland said: “This is a historic milestone for Lottoland – transforming its industry-leading risk management into its own fully authorised and licensed insurance company. Lottoland’s reinsurance structure, which combines both risk carrying markets insurance linked securities and traditional insurance, consists of the highest coverage in the market for the underlying gaming business.”
Fortuna Insurance will act as Lottoland’s underwriters covering the company’s collateral risks.
Lottoland CEO, Nigel Birrell, commented: “The fact that Lottoland is the first and only company in the gaming sector to have done this highlights our commitment to industry best practice and transparency. This is huge step forward not just for Lottoland but also for the gaming industry.”
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