Launch of Barbican Lloyd’s Syndicate
by Gill Montia
Story link: Launch of Barbican Lloyd’s Syndicate
Barbican, a new Lloyd’s Syndicate with a £75m stamp capacity, has been launched today.
The syndicate is supported by US private investment funds, Steel Partners II, LP and funds managed by Carlson Capital LP.
It will be led by Mark Harrington, who has obtained approval in principle from the Lloyd’s Franchise Board to begin underwriting in 2008.
David Reeves will serve as the Syndicate Director and chief executive officer, having had extensive experience of financial management, underwriting and reinsurance in the companies market.
Barbican’s portfolio will be broadly-based and highly diversified, initially setting out in sectors such as international property, casualty reinsurance, treaty business and other specialist lines.
A separate Guernsey-based reinsurance company has been formed to cater for clients with insurance needs that will require bespoke policies.
Mark Harrington, who served as active underwriter at QBE Syndicate 2000, launched Barbican with the promise that he will be: “building an experienced and knowledgeable underwriting team that will offer highly tailored insurance and reinsurance programmes to sophisticated buyers while delivering excellent customer service.”
Whittington Group, the insurance investment and services provider, has developed Barbican as a turn-key operation in conjunction with its Lloyd’s managing agency, Whittington Capital Management Limited.