15 October 2014 Insurance
AmTrust to make mandatory syndicate bid
US insurer AmTrust is required to make a mandatory offer for 2016 to acquire all the capacity it doesn’t already own in Syndicate 2526.
According to Lloyd’s rules, when a party owns in excess of 75 percent of the allocated capacity of the syndicate, it is required to make a mandatory offer to buy out all of the capacity.
AmTrust said this obligation will be satisfied through the 2015 auction process and/or in the form of a capacity offer in accordance with the prescribed timetable.
