Combined AmTrust syndicate will have over £500m capacity
Insurance group AmTrust has asked for approval to merge its three non-life Lloyd’s syndicates into one for the 2018 year of account.
Under the plan, syndicates 1206, 5820 and 1861 would be combined under the 1861 number. Syndicate 44, which writes life business, will remain separate.
The new Syndicate 1861 would have underwriting capacity of more than £500m. Christopher Jarvis will continue as active underwriter of the enlarged syndicate.
Bruce Whitmee, active underwriter of Syndicate 5820, will become head of consumer products, reporting to Jarvis.
AmTrust said that merging the syndicates will produce operational and service improvements.
AmTrust at Lloyd’s chief underwriting officer Mike Sibthorpe said: “Streamlining our operating model allows us to focus our efforts on identifying opportunities to optimise our portfolio; building on our underwriting strengths.”
AmTrust at Lloyd’s chief executive Peter Dewey added: “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.”