Lloyd's managing agency, PRO Syndicate Management, has acquired the business of Commodore Underwriting Agency.
Under the deal Commodore's staff will join PRO SM. PRO SM has also appointed Commodore's managing director, Susan Gwynne, as its new chief operating officer.
Meanwhile Commodore's finance director, Charles Portsmouth, will assume the same role in PRO SM.
PRO SM chief executive Tim Street said: "Having identified the strength of the team at Commodore I am very please that they are now part of PRO.
"Since PRO IS was created in 1993 we have built a reputation based on our commitment to professionalism, innovation and quality of service in providing run-off solutions.
"This philosophy combined with the new skills will be the cornerstone on which we build our Lloyd's market operation in the future."
