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Animals
Animal magic
It’s 40 years since Shergar, once the most famous racehorse in the world, was stolen and never seen again – dead or alive. Worth £10 million in 1983, the theft was insured in London.
Horse racing is one of the most popular sports in the world and the equine heroes can be worth millions of pounds. Everyone involved in the breeding, racing, transportation and care of these valuable animals relies on insurance to make sure that is the worst happens they don’t fall at a financial hurdle.
But the bloodstock market goes even further – memorably covering 10 elephants on a plane. Just so no-one forgets the importance of good insurance.
Alycia Port
Equine Underwriter
My role involves assessing the risk to the horses we protect and ensuring it is correctly priced, so that if they fall ill or die the owner is properly compensated...
Read Alycia's profile
Whether it is three-day eventing, point to points, flat racing or steeplechasing, the animals involved can be worth large sums of money and, as with any sport, run the risk of injury or death. There are also risks in the breeding, transportation and care of these valuable animals, and Alycia uses her in-depth knowledge of the equine industry to ensure that, should the worst occur, nobody suffers a financial fall.
Alycia has ridden and competed all her life but recognised that she could not afford to ride professionally so was looking for a career that could combine and fund her passion – as well as learn new skills. Having studied economics at the University of Sussex, she was looking at options in banking when a friend suggested bloodstock insurance.
“It was a lightbulb moment, realising that there was a career where my knowledge was going to be helpful and which offered me greater life / work balance enabling me to still compete” said Alycia who works for insurer, Convex. “My role involves assessing the risk to the horses we protect and ensuring it is correctly priced, so that if they fall ill or die the owner is properly compensated. The fact that I know many of these horses, their owners, their breeding and whether or not they have been ill, means that I can really add value to the team in understanding the risks”.
Bloodstock is a global industry, which means that Alycia travels extensively with her job, going to the USA, Australia and Europe several times a year. “Although the industry is very international, it is also quite a small world. And the fact that I am part of it both personally and professionally means that I can build really strong connections with everyone, and they know that I understand how it all works” Alycia continued. “I have made great friends across the industry. It is full of like-minded people and, although it is a financial service, it is as much about relationships as it is the numbers. Most importantly, it provides a very important source of protection for people and businesses investing in expensive four-legged assets.”
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