Syndicate previously run by third-party manager Asta
Global reinsurer Sirius International has launched its own Lloyd’s managing agency to run Syndicate 1945.
Sirius set up the syndicate in 2011, but until now it has been managed on Sirius’s behalf by third-party syndicate managing agency Asta.
The new managing agency, to be called Sirius International Managing Agency, will be led by chairman Göran Thorstensson, chief executive Michael Dashfield and active underwriter Robert Harman.
Sirius said the decision to manage the syndicate itself reflects its growing commitment to Lloyd’s. It also said it intends to increase Syndicate 1945’s capacity and activity when market conditions allow.
Furthermore, Sirius said that managing the syndicate gives its parent, White Mountains Insurance Group, a channel into the Lloyd’s market.
Syndicate 1945 has underwriting capacity of £98.7m.
Dashfield said: “This is a natural progression for Sirius. Our syndicate has already demonstrated the value of having a presence at Lloyd’s, both for ourselves and for our clients and brokers.
“We all look forward to further developing our position in the market over the coming years. I would also like to thank Asta for all their support since 2011.”