Talbot Underwriting Ltd (TUL) has placed the run-off of Syndicate 376 with Omni Whittington Capital Management Ltd.
TUL said it will contact all brokers and assureds in the next two weeks concerni ...
Talbot Underwriting, the Lloyd's insurer, is to transfer the run-off management of its Syndicate 376 to Omni Whittington Capital Management Ltd (OWCM).
OWCM will take care of day-to-day business for the syndicate under an outsourcing arrangement.
An official transition will be made later this year and until then, Talbot will retain formal responsibility.
Talbot chief executive Michael Carpenter said: "Syndicate 376 is one of the largest run-offs in the Lloyd's of London market and the board of TUL feels that it is now appropriate to pass the management of the syndicate to a company that specialises in the management of Lloyd's run-offs."
Talbot said in a statement that all brokers and assureds would be given details of the new arrangements in the next two weeks.
The deal is subject to regulatory approval.
