1 July 2014 Insurance

Sirius launches Lloyd’s managing agency

Sirius International has obtained approval to run its Lloyd’s Syndicate 1945 through its own managing agency.

Sirius said the decision to create an integrated vehicle reflects their growing commitment to Lloyd’s, with the intention of increasing capacity and activity when conditions allow.

The managing agency will also provide its ultimate parent company, White Mountains Insurance Group, a channel to the market.

Formed in 2011, Syndicate 1945 underwrites a wide range of classes including accident and health, property, contingency and marine. The Syndicate currently has capacity of £98.7 million. It has been managed up to now by Asta Managing Agency.

The new managing agency, to be called Sirius International Managing Agency (SIMA) will be led by chairman Göran Thorstensson, chief executive officer Michael Dashfield and active underwriter Robert Harman.

“This is a natural progression for Sirius. Our syndicate has already demonstrated the value of having a presence at Lloyd’s, both for ourselves and for our clients and brokers,” said Dashfield. “We all look forward to further developing our position in the market over the coming years. I would also like to thank Asta for all their support since 2011.”

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