special purpose syndicate


No growth in Lloyd’s special purpose syndicate (SPS) capacity in 2015

The amount of capacity provided by special purpose syndicates (SPS) in the Lloyd's of London insurance and reinsurance market saw no real growth in 2015, as one more SPS took the total number to 14 but only providing somewhere over £500m of capacity. Last year reinsurance broker Aon Benfield's Lloyd's Update read the full article →

ICAT launches special purpose syndicate, alternative capital features

ICAT, a provider of U.S. property insurance in catastrophe-exposed regions, has launched a new special purpose syndicate (SPS) at Lloyd's of London, capitalised by a range of backers, including alternative reinsurance capital. SPS 6123 has received ‘in principle’ approval from Lloyd's to further expand ICAT’s per risk capacity. Subject to completion read the full article →

Barbican launches quota share SPS backed with Credit Suisse ILS funds

Barbican has launched a new third-party capital backed Special Purpose Syndicate (SPS), which will underwrite a whole account quota share reinsurance contract, of property, specialty, marine, aviation and transport risks, backed by Credit Suisse ILS funds. The new Lloyd's of London Special Purpose Syndicate, SPS 6120, has been capitalised will enter read the full article →

ILS investor capital could enter Lloyd’s like Acappella syndicate

The approval this week at Lloyd's of London of Acappella Syndicate 2014 could be a demonstration for a mechanism that would allow third-party and alternative reinsurance capital to become serious participants in the Lloyd's insurance and reinsurance market. Acappella Syndicate 2014 is the first time in the Lloyd's insurance and reinsurance read the full article →

Ironshore to convert special purpose syndicate to permanent Lloyd’s syndicate

Bermuda based insurance and reinsurance holding company Ironshore is to become the first firm to successfully convert a special-purpose Lloyd's of London syndicate into a permanent syndicate backed by third-party capital from Lloyd's Names. This is a good example of another avenue through which third-party capital can gain access to the read the full article →