AmTrust at Lloyd’s announce proposal to combine syndicates
AmTrust at Lloyd’s has applied to Lloyd’s for approval to combine its three fully aligned non-life Lloyd’s syndicates under management.
AmTrust at Lloyd’s has submitted a Syndicate Business Forecast (SBF) to Lloyd’s for business written by syndicates 1206, 5820 and 1861 to be consolidated into a single Syndicate 1861 for the 2018 year of account.
Subject to Lloyd’s approval, Syndicate 1861 will have underwriting capacity of over £500m (GBP) with Christopher Jarvis continuing as Active Underwriter of the enlarged syndicate. Bruce Whitmee, currently Active Underwriter of Syndicate 5820, will become Head of Consumer Products reporting to Mr. Jarvis.
Mike Sibthorpe, CUO of AmTrust at Lloyd’s believes that the combined syndicate platform will enable operational and service improvements while allowing AmTrust’s expert team of underwriters to deliver competitive and innovative solutions to broking partners and clients.
“AmTrust at Lloyd’s is one of a small number of Lloyd’s agencies able to underwrite in all of the key Lloyd’s classes, through Syndicate 1861 for general insurance and Syndicate 44 for Life assurance”, commented Mr. Sibthorpe.
He continued: “Streamlining our operating model allows us to focus our efforts on identifying opportunities to optimise our portfolio; building on our underwriting strengths”.
Commenting on the proposal, Peter Dewey, CEO AmTrust at Lloyd’s said: “AmTrust’s Lloyd’s business has grown significantly over the last five years. Our proposed new syndicate structure is a major step towards our commitment to building a best in class Lloyd’s platform, simplifying the operation of the business and generating profitable growth and attractive returns for our business and AmTrust shareholders."
“By consolidating our underwriting activities within one non-Life and one Life syndicate, we are making the most efficient use of capital and resources, strengthening our offering and ensuring that we provide our clients and brokers with the best possible service."
AmTrust International (AI), the global insurance operation of AmTrust Financial Services Inc, comprise of four regulated companies – AmTrust Europe Limited, AmTrust at Lloyd’s Limited, Car Care Plan and AmTrust International Underwriters Designated Activity Company.
Since its founding year in 2003, AI have significantly expanded into Europe, Asia and South America and today employ more than 1200 staff in 26 locations.
Delivering bespoke insurance solutions around the world, backed by outstanding service, AmTrust International have the knowledge, skills, financial strength, technology and global licences to provide a comprehensive range of risk solutions worldwide.
Rated “A” Excellent by A.M.Best and with a Lloyd’s of London platform backed by the Lloyd’s of London chain of security, the underwriting entities within AmTrust International have the strength and the resources to support your business for the long term.
- Personal Accident & Travel
- PA Treaty
- Credit, Surety, Political Risk and Terrorism
- Professional Lines
- Small Medium Enterprise (SME)
- Cargo & Specie
- Professional Indemnity
- Special Risks
- Legal Expenses
- Accident & Health
- 9 Dec 2019
- 29 Oct 2019
- 5 Aug 2019
- 13 May 2019
- 23 Apr 2019
- 10 Jan 2019
- 26 Oct 2018
- 21 Jun 2018
- 8 Mar 2018
- 8 Mar 2018