Lloyd’s managing agent Whittington Capital Management Limited announced that it is sponsoring the launch of a new Lloyd’s syndicate – Syndicate 1945 will be supported by Sirius International Insurance Corporation, the Swedish reinsurer that is a member of the White Mountains Insurance Group, Ltd.
The Lloyd’s Franchise Board has approved in principle the establishment of the syndicate. Whittington and Sirius are working with Lloyd’s through the last stage of the new entrant application process with a view to securing approval to commence underwriting business incepting on or after 1 July 2011.
The Syndicate plans an initial stamp capacity of £66 million, writing insurance and reinsurance in the accident and health and contingency lines transferred from the London branch office. Its active underwriter will be Mike Dashfield who has headed the Sirius London branch since 1998.
Stephen Cane, chief executive officer of Whittington Capital Management, said: “We are delighted to be involved in the launch of Syndicate 1945 for Sirius. We are sure the team will be a great asset to the market and look forward to supporting them in the future.”
White Mountains Re Ltd. President and CEO Allan Waters said, “We are pleased that Lloyd’s Franchise Board has approved the formation of Sirius’ Syndicate 1945. We appreciate Whittington’s expertise and guidance in the process so far and look forward to continuing the relationship as the Syndicate develops.