Atrium Underwriters to drop marine XL reinsurance

Atrium Underwriters, the managing agent for Lloyd’s Syndicate 609, will drop the marine XL reinsurance book of business as of the new year.

“Continuing in the class was deemed unviable as Atrium look to focus their efforts and capacity into their direct specialty classes,” management said in its statement.

The account underwriter, Andrew Hedges, will stay on “for the foreseeable future” to ensure a smooth run-off for the portfolio.

For 2023, syndicate 609's capacity was raised to £875 million from £652 million in 2022.

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