Lloyd’s is currently reviewing the 2019 business plans of its syndicates

Arcus Syndicate 1856 has today announced that it has received approval from Lloyd’s for its 2019 business plan.

The business plan sees Arcus 1856 increase its capacity for property insurance. The Credit Suisse-backed syndicate will maintain its focus on all other current business lines across its property and specialty portfolio.

Arcus 1856 is managed by Barbican Managing Agency, part of the Barbican Group, and has a 2018 stamp capacity of £104.2m.

Barbican Syndicate 1955 recently revealed in its Lloyd’s-approved 2019 business plan that it is exiting property insurance, as well as marine cargo and hull insurance and PI insurance.

Commenting on the approval, Adrian Gfeller, managing director, Arcus 1856, said: “We are delighted to have received approval for our 2019 business plan. Arcus 1856 operates a well-diversified portfolio of business and in 2019 our aim will be to ensure the ongoing profitability of that portfolio by maintaining strict underwriting discipline across all lines of business.”