Agora Syndicate gets Lloyd's approval to start underwriting in 2018
Lloyd's third-party managing agent Asta has announced that Agora Syndicate 3268 has received approval from Lloyd’s of London to commence underwriting business from January 2018.
Agora Syndicate 3268 will be managed by Asta and privately capitalised by a number of well-known industry players, according to the statement. It will underwrite property business with a focus on direct & facultative, binders and treaty business worldwide.
Agora was initially launched as special purpose arrangement (SPA) 6126 in 2016. Syndicate 3268 received ‘in principal’ approval from Lloyd’s Franchise Board in September this year.
Syndicate 3268 has planned gross premium of £98 million for 2018 and its active underwriter will be Mike Pritchard.
Agora CEO Pritchard said: "Since launching in 2016, our long-term ambition has been to establish Agora as a market-facing syndicate. I am very pleased to confirm that we will commence underwriting business as Agora Syndicate 3268 in the new year. This is evidence of our success, market expertise and the hard work of the team. I look forward to continuing the Agora story with the team and the support of all our capital partners and managing agent Asta."
Julian Tighe, CEO at Asta, added: "Over the past two years, Agora has undergone measured and sustainable progress. It has been a pleasure to see Mike and his team develop such a strong book of business from the ground up. We are very pleased that Agora has received approval to underwrite as a market-facing syndicate. We look forward to continuing to work with the Agora team and provide underwriting management, regulatory and business support, which will help ensure its success into 2018 and beyond."
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