Pembroke gets Lloyd’s green light for Syndicate

19-03-2018

Pembroke Managing Agency has been granted approval by Lloyd’s to establish and manage GIC Syndicate 1947.

The syndicate will start to underwrite business, attaching on or after April 1, 2018, in accordance with the Lloyd’s agreed business plan. The stamp capacity is £55 million for 2018.

Pembroke said that GIC Syndicate 1947 will underwrite property, agriculture and engineering lines of business. GIC Re is a major insurer in India and the SAARC region having been established for more than 45 years. Pembroke, a specialist provider of Lloyd’s managing agency services to Strategic Partners, guided GIC Re through the Lloyd’s approval process and will manage the new syndicate.

“Pembroke is delighted to have obtained Lloyd’s approval for this syndicate,” said Chris Brown, strategic partnership director for Pembroke Managing Agency. “GIC Syndicate 1947 will bring a balanced and diversified domestic Indian portfolio into the Lloyd’s market that otherwise would have been beyond our reach.”

Neil Attwood has been appointed as active underwriter for the GIC Syndicate. Attwood will report to Brown. He was most recently active underwriter at AmTrust Syndicate 2526, and also had served in the leadership role as active underwriter with Torus Syndicate 1301.

“Harnessing Pembroke’s specialty lines expertise with GIC Re’s underwriting and distribution capability in India, will further develop business opportunities for GIC Re, Pembroke and other participants in the Lloyd’s market,” said Attwood.

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Bermuda Re