syndicate

Verto Syndicate 2689, a newly approved “in principle” Lloyd’s of London syndicate, aims to ease access to the returns of Lloyd’s underwriting business for private capital investors through proportional quota share reinsurance of other syndicates.

Nephila Syndicate 2357, the first Lloyd’s of London syndicate backed by an insurance-linked securities (ILS) manager, was among the top performers of all Lloyd’s syndicates in 2015, according to ratings agency Standard & Poor’s (S&P).

Lloyd’s of London Syndicate 2357, backed by the largest manager of catastrophe and weather insurance or reinsurance linked assets, Nephila Capital, more than doubled its full-year profit in 2015 and has increased its stamp capacity for 2016 by 68% to $178.9m.

International specialty insurance and reinsurance firm Argo Group is deepening its relationship with third-party capital investors by expanding the use of investor money, alongside its own, in its Lloyd’s of London Syndicate 1200.

Lloyd’s of London Syndicate 2357, the first syndicate to enter the Lloyd’s reinsurance market backed by an insurance-linked securities player in Nephila Capital, has increased its gross written premiums by 136% to $33.3m for the 2014 year of account.

Lloyd’s of London Syndicate 2357, the first syndicate to enter the Lloyd’s reinsurance market backed by an established insurance-linked securities player in Nephila Capital, reported its 2013 results recently which show a profitable start for the unique Lloyd’s business.

Lloyd’s of London Syndicate 2357, the first syndicate to enter the Lloyd’s reinsurance market backed by an insurance-linked securities player , Nephila Capital, has an increased capacity of £72.5m for 2014, according to a report by economists at Moody’s Analytics.

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.

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.

Reuters reports today that the chief executive of Catlin, one of the largest syndicates at Lloyd’s, Stephen Catlin, suggested that they could seek to raise up to $500m to take advantage of the trend for rising catastrophe insurance prices after the heavy toll of disasters so far this year.