A long-time client specializing in transportation was in need of a replacement market for their AL/APD book.  After working with the client to investigate a number of alternatives, we recommended that they write the APD on a non-admitted basis in Lloyd’s.  This enabled them to price the APD appropriately which was not possible on an admitted basis.  We also guided them through the Lloyd’s cover holder approval process.  As market leaders in this space, their APD premium writings have increased dramatically, and this line is now profitable.