Arcus 1856, the Lloyd’s of London syndicate backed with capital from funds under management by the Credit Suisse insurance and reinsurance linked investment strategies team, has appointed Gary Delaney as syndicate manager.
Delaney, who has worked alongside the Lloyd’s of London Performance Management Directorate (PMD) since 2008, joins Arcus Syndicate 1856 immediately and will support active underwriter Nicky Payne in running all aspects of Arcus 1856’s underwriting operations.
The Credit Suisse ILS team’s Arcus Syndicate 1856 began trading on January 1st 2016, as the second Lloyd’s syndicate backed by an ILS fund manager, fully capitalised with funds managed by the Credit Suisse ILS investment management team.
Delaney was most recently a class of business deputy executive at Lloyd’s of London, working to monitor all classes of business across the market as part of the class of business team alongside the underwriting performance department and Performance Management Directorate (PMD). He joined Lloyd’s as an analyst in the PMD business intelligence division in 2008, prior to which he worked as a claims/data analyst at Munich Re from 2005 to 2008.
Delaney will report directly to Rajiv Punja, head of Arcus Syndicate, who said; “This is a key appointment for Arcus 1856. Gary’s extensive underwriting insight spanning all lines of business at Lloyd’s, coupled with his detailed understanding of critical market functions and trends makes him an important addition to our team. At Arcus 1856, we combine the financial strength of Lloyd’s and the innovation and experience of the capital markets. This has enabled us to build strong market momentum and we will continue to bolster our team at all levels to ensure we maintain that momentum.”
Arcus syndicate 1856 underwrites a diversified portfolio of reinsurance business on an international basis, with its primary focus on lines such as property reinsurance and specialty classes including marine, energy, cyber, space and aviation.
Arcus 1856 remains one of only two full Lloyd’s syndicates backed by ILS capital. Credit Suisse’s ILS team benefits from a broader underwriting platform, with access to business within the Lloyd’s specialty insurance and reinsurance marketplace.