Pioneer’s Syndicate 1980 to start underwriting 1/1
Pioneer Underwriters, the underwriting group within Minova Insurance Holdings received approval from Lloyd’s for Syndicate 1980 to commence underwriting business attaching on or after 1 January 2018.
Pioneer Syndicate 1980 will have a gross premium income of £278 million and will underwrite a broad cross-section of business including property, casualty, marine and energy. The Syndicate will be managed by Asta.
“The launch of the Syndicate 1980 is an important next step in the execution of Pioneer’s long-term strategic objectives and supports development of the business,” said Darren Doherty, CEO Pioneer Underwriters. “We have built a robust operating platform to underpin delivery of our technical and specialist underwriting expertise to our clients and capital providers.”
Julian Tighe, CEO of Asta, said: “Pioneer is an impressive business and it has been a pleasure working with the Pioneer team to create Syndicate 1980. I’m confident that Asta’s expertise and depth of market knowledge will offer Pioneer all the business support it needs to develop its underwriting into its own Syndicate at 1 January 2018.”
Pioneer Underwriters launched in April 2011 and trades as both a risk carrier and managing general agent/managing general underwriter (MGA/MGU) with full delegated underwriting authority in over 120 Lloyd’s class codes using a pre-analysed broker portfolio as its foundation. Pioneer operates with the backing of Liberty Syndicate 4472 and manages circa £350 million of premium via 22 underwriting teams across property, marine and casualty classes. Pioneer underwrites via over 25 facilities operating via Lloyd’s and non-Lloyd’s platforms. Pioneer has delegated authority arrangements with 29 markets, terms of business agreements (TOBA’s) with 130 London and overseas brokers and nationwide distribution capability across the US.
