12 March 2015 Insurance

Charles Taylor given managing agency green light

Charles Taylor has received the go-ahead to launch a managing agency, following regulatory approval from the PRA, the FCA and Lloyd’s.

In addition, Lloyd’s has approved Charles Taylor managing agency (CTMA) to manage Syndicate 1884. It plans to extend its syndicate management capability to further new Lloyd’s start-ups.

Christian Schirmer, chief executive officer, CTMA, said: “New syndicates entering the Lloyd’s insurance market will generally appoint an approved turn-key managing agent, to provide them with all of the management oversight and services they require to operate in the Lloyd’s market. I am particularly pleased that syndicate 1884 has chosen CTMA as its managing agent.

“We intend that CTMA will provide turn-key syndicate management to additional new syndicates entering Lloyd’s in the future. This will supplement the few managing agents that currently focus on turn-key management and we believe there will be a significant demand for our services.”

David Marock, chief executive officer, Charles Taylor, said: “The launch of CTMA marks another important step in delivering our growth strategy by building the breadth of professional management services we offer to insurance markets.

“We have deep experience of working in the Lloyd’s market where we offer highly technical skills coupled with a commitment to excellence. We are confident that CTMA will offer exceptional management to new entrants to the Lloyd’s market.”

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