Omni Whittington has reinsured its managed Syndicate 1224 to close into Syndicate 1084.
Syndicate 1224 started trading in 1997 and ceased accepting new and renewal business in September 2000. It ha …
Omni Whittington has reinsured to close its managed Syndicate 1224 into Syndicate 1084.
Syndicate 1224 started trading in 1997 and ceased accepting new and renewal business in September 2000. It had a capacity of £35m for all four years of account. The closure takes effect from 31 December 2005.
Neil Deshpande, managing director of Omni Whittington Capital Management said: “Securing the reinsurance to close continues our record of successfully closing the syndicates in run-off under our management. This is good news for the capital provider and the Lloyd's market which will also benefit from a reduction in the number of current open years.”
Omni Whittington will now focus on achieving finality for its other managed syndicates and winning new contracts with syndicates in run off.
