New managing agency launches at Lloyd's of London
A new managing agency has been launched at insurance and reinsurance marketplace Lloyd's of London with an underwriting capacity of £325 million for 2021.
Blenheim Underwriting, a wholly owned subsidiary of White Bear Capital, has received final approval and the necessary permissions from the Prudential Regulation Authority (PRA), the Financial Conduct Authority (FCA) and Lloyd’s to act as a managing agency in respect of Syndicate 5886.
The effective date of transfer of management from Asta to Blenheim was August 6 and follows Lloyd’s ‘approval in principle’ in March 2020.
Blenheim manages Syndicate 5886 which has underwriting capacity for 2021 of £325 million.
Peter Scales, CEO of White Bear Capital and a director of Blenheim, said: “This is a significant milestone for the group that the team has worked hard to achieve. We would like to thank Asta for acting as our managing agent in the syndicate’s formative years and we look forward to the future as an independent business.”
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