Pembroke’s GIC Syndicate April launch approved

Pembroke Managing Agency has been granted approval by Lloyd’s to establish and manage GIC Syndicate 1947, which has been cleared to underwrite business from April 1.

The Syndicate 1947 has a stamp capacity of £55 million for 2018. It will underwrite property, agriculture and engineering lines of business.

Neil Attwood has been appointed as active underwriter for the GIC Syndicate. He was most recently active underwriter at AmTrust Syndicate 2526, and also has served as active underwriter at Torus Syndicate 1301.

Attwood will report to Chris Brown, strategic partnership director for Pembroke Managing Agency.

“GIC Syndicate 1947 will bring a balanced and diversified domestic Indian portfolio into the Lloyd’s market that otherwise would have been beyond our reach,” said Brown.

Attwood added: “Harnessing Pembroke’s specialty lines expertise with GIC Re’s underwriting and distribution capability in India, will further develop business opportunities for GIC Re, Pembroke and other participants in the Lloyd’s market.”

GIC Re is a market leader in India and the SAARC region having been established for more than 45 years. Pembroke received “in principle” approval to create the GIC syndicate as granted by Lloyd’s Franchise Board in December 2017.

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