Chubb Europe cleared for new Lloyd’s Syndicate

by Gill Montia

Story link: Chubb Europe cleared for new Lloyd’s Syndicate

Chubb Insurance Company of Europe has received approval from the Lloyd’s Franchise Board to establish a new Syndicate that will honour the group’s foundation date.

Chubb 1882 will commence underwriting from 14th June for business incepting from 1st July 2010 and with a capacity of £41.5 million for the remainder of the year.

It will be managed by Chubb Managing Agent Limited and offer a mix that includes traditional marine and professional indemnity business, alongside specialist classes such as technology.

Rob Cage, who was previously Chubb’s UK head of commercial business, has been appointed active underwriter of the new Syndicate and will be joined by 16 specialist underwriters.

According to Chubb Europe’s chief executive, Michael Casella, the move gives access to the international markets in which Lloyd’s operates and is backed by an outstanding team with exceptional experience.