Lloyd’s approves Arcus 1856 business plan for 2019
Lloyd’s has approved the 2019 business plan of Arcus 1856 syndicate with an increase in property insurance capacity.
The business plan sees Arcus 1856 maintain its focus on all current business lines across the syndicate’s property and specialty portfolio. In addition, there will be an increase in capacity for property insurance.
Lloyd’s of London has been taking action to reduce the market’s exposure to unprofitable lines and the size of the worst-performing syndicates.
Syndicates have been asked to conduct in-depth reviews of the worst-performing 10 percent of their portfolios along with all loss-making lines and have been submitting their relevant remediation plan for approval as part of the 2019 business planning process.
“Arcus 1856 operates a well-diversified portfolio of business and in 2019 our aim will be to ensure the ongoing profitability of that portfolio by maintaining strict underwriting discipline across all lines of business,” said Adrian Gfeller, managing director, Arcus 1856.
Arcus 1856 is 100 percent backed by funds managed by the Credit Suisse ILS division.
Managed by Barbican Managing Agency Limited, part of Barbican Insurance Group, Arcus 1856 has a 2018 stamp capacity of £104.2 million.
Focusing primarily on providing reinsurance solutions, the company operates a portfolio across property reinsurance and speciality lines, including energy, cyber, space and aviation, on a proportional, risk XL and Cat XL basis, with the ability to offer innovative ILS solutions.
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