Capita Syndicate Management, part of the Capita Group, has been appointed to run off Syndicate 1900 - the syndicate previously managed by Newmarket Underwriting. This arrangement is with immediate effect.
Capita will have responsibility for all run-off related activities - including exposure reduction, reinsurance purchase, claims management, debt collection and financial reporting.
Chairman David Young commented: "Our primary objective is to provide an exit route for capital providers at the earliest opportunity, having stabilised the business through containment of liabilities and prudent purchase of reinsurance.
"We have a team which is an expert on the complex technical issues that occur in a run-off as current as Syndicate 1900."
