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Flagstone Re To Establish New Lloyd’s Property Division, Syndicate

The establishment of Syndicate 1969 has been approved in principle by Lloyd’s franchise board

Flagstone Reinsurance has announced that a team lead by Nick Jones has joined its Lloyd’s underwriting operation, Marlborough Underwriting Agency, to create a worldwide property division.

Initially writing on behalf of Marlborough’s existing Syndicate 1861, the division will be supported for the 2010 year by a new mixed-capital Syndicate 1969, which will provide the majority of the capacity and utilise managing agency services and systems provided by Marlborough and Flagstone.

The establishment of Syndicate 1969 has been approved in principle by Lloyd’s franchise board, but is subject to final approval by Lloyd’s.

Flagstone, through its operating subsidiaries, provides reinsurance and insurance products and services.