Asta Managing Agency Ltd; the Lloyd’s leading third party syndicate manager, is pleased to confirm that subject to final Lloyd’s approval, management of ICAT Syndicate 4242 will migrate to Asta as of January 1 2013.
Syndicate 4242 maintains a stamp of £80M, and is in its 6th year of underwriting at Lloyd’s. ICAT is a leading provider of property insurance to businesses and residential property owners located in hurricane and earthquake exposed regions of the United States. ICAT assists businesses and people to recover from natural disasters and provides best-of-market products and services to its policyholders, agents and brokers.
The Syndicates transfers from Chaucer Syndicates Limited.
Commenting on their transfer to Asta, Greg Butler, the Active Underwriter for ICAT said: “We are very pleased to have this opportunity to move our business forward with Asta, a managing agency with a proven track record for supporting syndicates as they grow. In 2013 we are excited about new opportunities to build on our existing successful business model.”
Stephen Cane, Chief Executive for Asta added: “We welcome the whole 4242 team to Asta and look forward to working with them to help grow the business further and to build on their excellent track record.”