Lloyd’s insurer unveils Syndicate 2988
Lloyd’s insurer Brit has received approval from the Lloyd’s Franchise Board to launch a £52m new syndicate.
Syndicate 2988 will have capacity of £52m for its first year of trading, and will be supported by private Lloyd’s members.
The new syndicate will write a global portfolio of insurance and reinsurance across a range of speciality business lines that Brit already has established products in.
Its risks will be written by Brit’s existing teams.
Syndicate 2988, will be managed by Brit managing agent Brit Syndicates Limited alongside the company’s existing Syndicate 2987.
Brit group deputy chief executive and Brit Global Specialty chief executive Matthew Wilson said: “Brit is the largest business writing solely on the Lloyd’s platform and we believe this focus is a key differentiator for us. Today’s announcement is further evidence of our commitment to this market.
“Syndicate 2988 will help us further position Brit as the specialist underwriter of choice, building on our existing strength across underwriting, claims and capital management and track record of delivering attractive returns for capital providers.”