A new Lloyd's syndicate aimed squarely at UK commercial professional indemnity risks is to be launched by Heritage Managing Agency.

The syndicate is understood to have been in the pipeline for months and to be on the verge of being launched.

Its introduction will be welcomed by brokers desperate for new sources of PI capacity.

Heritage was established as a Lloyd's managing agency in 1999 to set up and manage Syndicate 1245, a non-marine syndicate focusing on casualty business.

Heritage already writes UK PI business through Syndicate 2245, underwritten by Mark Lawrence who joined from Amlin in 2000.