Agile Underwriting Services has received in-principle approval from Lloyd’s to create Agile Syndicate 2427 (AUS 2427), subject to regulatory approvals. Syndicate 2427 will be established under the syndicate-in-a-box framework and be managed by Asta through its third-party managing agency platform at Lloyd’s.
Through the syndicate, Agile plans to access niche and SME business written in the domestic APAC market; and anticipates writing £34.1m of GWP for the 2024 year of account, rising to £62.1m for 2026, with key growth areas being liability, professional indemnity, accident and health, property and travel.
Mark Hunt will be appointed active underwriter. Mr Hunt has 40 years of underwriting experience, having commenced his career at Syndicate 386, before moving to help establish Syndicate 1156. He was also deputy active underwriter of Syndicate 2525. More recently, he held senior underwriting management roles at Zurich Australia across all classes and segments.
Robin Barham, CEO of Agile, said: “Through syndicate 2427, we will facilitate access to geographies and market niches that the Lloyd’s market is currently unable to write affordably. Lloyd’s industry-leading position, excellent reputation and licenses, combined with Asta’s unrivalled experience and expertise as our managing agent, make them ideal partners for us to deliver future growth.”
Syndicate 2427 is targeting commencement of underwriting from April 2024.
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