Allied World Assurance Company Holdings, AG, has received approval from Lloyd's, the Prudential Regulation Authority (“PRA”), and the Financial Conduct Authority (“FCA”) to establish its own Lloyd's managing agent, Allied World Managing Agency Limited, to manage Allied World's syndicate 2232.
Syndicate 2232 commenced operations at Lloyd's in June 2010 and previously was managed by Capita Managing Agency Limited. The syndicate underwrites insurance and reinsurance product lines including international property, general casualty, professional lines, and international treaty. Syndicate 2232 targets territories in the Latin America and Asia Pacific regions as well as emerging markets in the Middle East and Africa.
Darren Powell, the active underwriter for Syndicate 2232, commented, “We are delighted that Lloyd's, the PRA, and FCA have recognized our commitment to the market and the hard work we have put in to get to this stage. Launching our own managing agency at Lloyd's has been a primary objective for our team. We are also appreciative of the efforts of the team at Capita who helped get Syndicate 2232 up and running and who have helped to make this transition as seamless as possible.”
Julian James, the president for Allied World Europe, added, “The establishment of Allied World Managing Agency Limited at Lloyd's is another significant step for our European platform. We continue growing, expanding our presence in the primary market, and providing our trading partners and clients with innovative products and services to meet their evolving challenges. We will continue to work with Lloyd's as a key partner to expand our product offerings in the European market and enter new territories across the globe.”
Learn more: www.awac.com.
Victoria Spears
Victoria Prussen Spears is senior vice president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. A graduate of Sarah Lawrence College and Brooklyn Law School, Ms. Spears was an attorney at a leading New York City law firm before joining Meyerowitz Communications. She may be contacted at [email protected].