Omni Whittington has said it is in an advanced stage of planning to develop a new Lloyd's live underwriting syndicate which will be based in Singapore.
The new syndicate will involve the creation of a new managing agent in London, and the raising of capital for the syndicate which will source business through a related-party Singapore service company under the Lloyd's (Asia) Scheme.
Whittington Group CEO Tony Hobrow said: “We are very excited about the prospect of an underwriting syndicate in this part of the world, and we are extremely confident about its prospects.
"The proposed syndicate will write predominately short-tail commercial property, engineering, on-shore energy and cargo business, sourced in the Asia-Pacific region, and the plan is to expand our new Lloyd's agency to manage other syndicates over time.”
The syndicate's active underwriter and CEO of the Singapore service company has yet to be officially named, but the company said both are extremely experienced, with a proven track record of profitable underwriting over many years in the region.
