Lloyd’s has approved the novation of GIC Re’s syndicate 1947 managing agency agreement to Asta. Effective today, Asta will provide full oversight and operational support for open and prior years.
Launched in 2018, syndicate 1947 writes property D&F, treaty and specialty lines, with 100% capital support from GIC Re.
Ramaswamy Narayanan, GIC Re chairman and managing director, said: “We are pleased to commence this partnership with Asta as we consider they are best-placed to help deliver the group’s strategy through managing our fully-aligned Lloyd’s syndicate, GIC Re Syndicate 1947.”
Lorraine Harfitt, CEO of Asta, added: “We are delighted to partner with GIC as it enters the next phase of its growth and evolution. Asta’s independent third-party platform allows us to focus exclusively on delivering for our clients, helping them achieve their strategic ambitions. Working with syndicate 1947 on this transition underscores our commitment to the Lloyd’s market and to our client partnership model. We look forward to working with the GIC team for the rest of 2025 and beyond.”
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