Thomas Miller Managing Agency has taken over the management of Syndicate 2241 from Chartwell Managing Agents, following approval by Lloyd's and the Financial Services Authority (FSA).
The move is part of a wider reorganisation of the investment of Miller's and Swiss Re in the Dex project, the UK-based hull and machinery joint venture.
Dex has been underwriting business in the European, Asian and North American markets through Syndicate 2241 since 2000. At the beginning of the year, Swiss Re, the syndicate's sole capital provider, increased capacity from $20m (£13.5m) to $33m (£22.2m).
Chartwell Managing Agents is a subsidiary of Trenwick, which was part of the original joint venture behind Dex. Trenwick has decided to reallocate its capacity to other business areas and has sold its shares in Dex to Thomas Miller and Swiss Re.
