Turnkey operation Arrow Syndicate 1910 gains approval
Goldman Sachs’s Arrow Syndicate 1910 is to enter the Lloyd’s insurance market in January 2008.
Arrow Syndicate will underwrite a worldwide book of property catastrophe and other (re)insurance business. The transaction is subject to customary regulatory approval and other conditions.
Arrow Syndicate has been developed as a turn key operation in conjunction with insurance investment and services provider Whittington Group. Its managing agency, Whittington Capital Management Limited, led by CEO Stephen Cane, sponsored the formation of the syndicate and will provide third party services and other support functions as the syndicate develops.
Commenting on the launch of the syndicate, Tom Milligan, who is a Vice President at Goldman Sachs and the Arrow Syndicate Active Underwriter, said: “We are excited by the prospect of expanding our existing (re)insurance platform to Lloyd’s. Arrow Syndicate 1910 will provide Goldman Sachs with a first class platform to leverage our financial strength, global franchise and experienced team to deliver client-focused reinsurance solutions.”
Whittington Group Chief Executive Officer, Tony Hobrow, said: “We are delighted to be working with Arrow to create their new turn-key Syndicate, which we believe will be a great success. Our team, which has worked extensively with Arrow to get to this point, is now focused on securing final regulatory approval to enable Arrow to begin trading in the Lloyd’s market from 1 January.”
