Probitas Syndicate 1492 begins underwriting
Probitas Syndicate 1492 has announced it has started underwriting.
The Lloyd’s syndicate will write an international portfolio of property and casualty direct insurance and facultative reinsurance with a focus on business, particularly in Latin America and other emerging markets.
Ash Bathia is appointed as Probitas’ chief executive officer and active underwriter of Syndicate 1492. He was previously chief underwriting officer at QBE and active underwriter of Syndicate 386.
The executive team includes Probitas’ founding members, former Ascot executive Jon Foley as chief underwriting officer, property and former Marsh executive Nick Bacon as chief distribution and operations officer and the latest team member Antony Dodson as chief pricing officer, who joins from the Watkins Syndicate at Lloyd’s.
The syndicate will have robust regulatory, governance and operational infrastructure provided by Capita Managing Agency, its turnkey managing agency. Cornerstone investment has been provided by Istmo Re.
The syndicate will be based at 107 Leadenhall Street and at Box 422 on the 4th Gallery at Lloyd's.
Ash Bathia said: "We are delighted to be bringing something new and exciting to the Lloyd's market with our syndicate’s initial focus on property and casualty business in emerging growth markets.
“We are also very pleased to have Istmo Re as our key investor and distribution partner in Latin America."
