Beazley has been approached by a number of capital providers who have expressed interest in potentially supporting a new Lloyd's syndicate...
Beazley has said a number of capital providers have approached the company, expressing interest in potentially supporting a new Lloyd's syndicate.
Beazley has contacted the underwriting members of Syndicate 623 seeking their approval for the proposed formation of the new syndicate: Syndicate 3623 and offering them the opportunity to participate on a limited tenancy basis.
Beazley said the proposed underwriting capacity of Syndicate 3623 would be up to £200m for the 2006 year of account.
The new syndicate would enable Beazley to underwrite additional property insurance, property reinsurance and marine energy business.
Beazley would receive fees and profit commissions for managing Syndicate 3623 and would take a modest participation on Syndicate 3623, to be funded out of Beazley's existing resources.
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