Euclidian will announce later today that it will cease underwriting on Syndicate 1243 at Lloyd's.
It is understood that the management and renewal of business will transfer to Marlborough Underwriting at Lloyd's.
The agency, which is 100% owned by Berkshire Hathaway, will be put into run-off, according to sources.
Michael Wade's Capital Insurance Holdings, which owns the Euclidian Group, will continue to own the Euclidian insurance broking operations, Euclidian Direct, which runs the Euclidian schemes and specialist classes. It is understood James Stuart, Euclidian's managing director, will head up this operation.
Berkshire Hathaway has a 25% shareholding in Capital Insurance Holdings.
