Everest Re given green light for Lloyd's syndicate
Bermuda-based Everest Re has secured in principle approval from Lloyd’s to launch a syndicate as it seeks to build its international footprint.
Andrew Carrier has been named the active underwriter of Everest Syndicate 2786. The syndicate will be managed under a turnkey arrangement by Asta Managing Agency.
Everest and Asta are working to secure the final approvals to commence underwriting business from January 1, 2016.
Everest will be the sole capital provider of Syndicate 2786, with an initial stamp capacity of £102 million.
Daryl Bradley, head of international insurance for Everest Re Group, said: “The Lloyds market, with its strong reputation and global reach, provides a very efficient platform from which Everest can operate to grow its international insurance footprint. We are looking forward to working with Lloyds and Asta to continue the build out of the Everest franchise.”