31 March 2014

Allied World forms Lloyd’s managing agent

Allied World Assurance Company is to establish its own Lloyd’s managing agent.

Allied World Managing Agency will manage Allied World’s syndicate 2232, which was previously managed by Capita Managing Agency.

The syndicate underwrites a diverse range of insurance and reinsurance product lines including: international property, general casualty, professional lines and international treaty. It targets territories including Latin America and the Asia Pacific regions as well as emerging markets in the Middle East and Africa.

It now writes nine lines of business and its capacity has increased from £26 million in 2010 to £121 million for 2014.

Darren Powell, active underwriter for Syndicate 2232, said: “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, 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 challenge. 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.”

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