The company deals in the distribution, importation and distilling of alcoholic beverages. 

Over a three-year period the risk profile had significantly changed, with the distillery risk exposure growing year on year. The main exposure has increased by over USD100m.

Working closely with the US intermediary, all necessary information to enable the placement was obtained.

With the tightening in capacity for storage risks, in both the domestic and international markets, the Miller team needed to be creative to arrange full limits coverage at acceptable premium levels. We therefore restructured the programme from a ground-up placement to a three-layered program in order to ventilate the additional risk and minimise the premium increase for the increasing exposure. 

The retail broker was delighted with the outcome having tested the domestic market for price and capacity. The appetite was not there.