AmTrust at Lloyd’s Announce Proposal to Combine Syndicates
11th September 2017, LONDON: 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."
About AmTrust at Lloyd’s
AmTrust at Lloyd’s is a trading name of AmTrust Syndicates Ltd, a Lloyd’s Managing Agency and subsidiary of AmTrust Financial Services, Inc. AmTrust at Lloyd’s delivers bespoke re/insurance solutions for a range of risks in the UK and around the world. Our expert underwriters work closely with brokers and clients to deliver robust risk solutions backed by the financial strength of the AmTrust Group and the unique Lloyd’s chain of security. For more information about AmTrust at Lloyd’s visit www.amtrustatlloyds.com
About AmTrust Financial Services, Inc.
AmTrust Financial Services, Inc., a multinational insurance holding company headquartered in New York City, offers specialty property and casualty insurance products, including workers' compensation, commercial automobile, general liability and extended service and warranty coverage through its primary insurance subsidiaries. Rated "A" (Excellent) by A.M. Best, AmTrust is included in the Fortune 500 list of largest companies. For more information about AmTrust visit www.amtrustgroup.com
For more information, please contact:
AmTrust at Lloyd’s
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