FSA and Lloyd’s give green light to SCU

by Richard Kilner

Story link: FSA and Lloyd’s give green light to SCU

Both the Financial Services Authority (FSA) and Lloyd’s have given the green light for Sportscover syndicate, 3334 SCS to have its management taken over by a new agency.

Sportscover Underwriting Limited (SCU) assumed the management of the syndicate on 24 December last year.

The syndicate has been very successful at writing for sports and leisure business since its inception in 2006.

Matthew Riley, chief executive officer of SCU, has expressed his delight at the granting of approval by Lloyd’s.

The SCU board is festooned with industry veterans occupying both executive and non-executive positions, with non-executive chairman Bob Wallace having worked as an underwriter with Lloyd’s for many years.

Sportscover was founded over two decades ago by group MD Peter Nash, who now sits on the board as active underwriter.