Capita secures Lloyd’s approval to manage live syndicates
Capita Managing Agency (CMA), part of Capita Group, has received approval from Lloyd’s to manage live syndicates.
In addition, the firm has been approved to manage a new syndicate that will commence underwriting on June 30th 2010, targeting key territories such as countries in Latin America and the Asia Pacific region.
Syndicate 2232 will be capitalised by a subsidiary of Allied World Assurance Company Holdings and offer product lines including international property, general casualty, professional lines and international treaty.
CMA says it is well positioned to meet the demands of market entrants, having wide access to the resources offered by its parent company, including underwriting support, claims management, accounting and compliance expertise, IT provision and property management.
Chief executive officer, Iain Bremner, comments: “We look forward to working closely with Allied World to help them achieve their ambitions at Lloyd’s.”
He adds: “The combination of our strong agency and access to back office support, via the wider Capita Group, is a powerful one that we believe will prove attractive to potential new entrants to Lloyd’s.”
Earlier this week, Chubb Insurance Company of Europe received approval from Lloyd’s to establish a new syndicate that will run traditional marine and professional indemnity business alongside specialist classes such as technology.
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.
Category: Companies News, Insurance News
Visited 2000 times, 1 so far today
Comments (0)
Trackback URL | Comments RSS Feed
There are no comments yet. Why not be the first to speak your mind.