AmTrust boosts share in Asta

Nasdaq-listed insurer AmTrust was the most significant buyer in the first Lloyd’s capacity auction of the year.

It increased its share in Asta Syndicate 2526 to 98.3 percent from 60.6 percent, buying £24 million in new capacity, according to analysis by members’ agent Argenta.

AmTrust is the owner of the syndicate’s service company and plans to transfer the management of the syndicate to its own managing agency early next year.