The syndicate will commence underwriting from mid-March 2009 for risks attaching from April 1, 2009 onwards
Arch Insurance Company Europe, a subsidiary of Arch Capital, has received approval from Lloyd’s to establish Syndicate 2012, a new syndicate, at Lloyd’s.
Arch Insurance said that the syndicate will commence underwriting from mid-March 2009 for risks attaching from April 1, 2009 onwards.
Syndicate 2012 will be managed by a newly created managing agent, Arch Underwriting at Lloyd’s, authorised by the UK’s Financial Services Authority, and supported by a newly formed corporate member. Syndicate 2012 initially plans to write a composite portfolio comprised mainly of marine, personal accident, property and professional lines insurance.
William Beveridge of Arch Insurance Europe has been appointed active underwriter of Syndicate 2012. James Weatherstone, president and CEO of Arch Insurance Europe, will serve as CEO of the managing agent, and David Hipkin, chief underwriting officer of Arch Insurance Europe, will also assume responsibility as director of underwriting of the managing agent.
Mark Lyons, chairman of Arch Worldwide Insurance, said: The establishment of a Lloyd’s platform represents an important strategic addition to the Arch global distribution base. Because of its strong global brand, license base and extensive infrastructure Lloyd’s is uniquely positioned for the development of key international business as well as expansion into new and emerging markets.