- Newslink Global Insurance Trends-The Week
- The InsurTech Accelerator, part of Hartford InsurTech Hub powered by Startupbootcamp InsurTech, hosts its first Demo Day
- Coverfox receives further funding of $22m
- TMK in strategic arrangement with Australian InsurTech Evari
- Envelop Risk, a global specialty cyber insurance analytics and underwriting firm, launches in San Francisco
- Ovum researches 2,500 UK insurance buyers to understand what insurers can do to differentiate
- PERILS AG releases second loss estimate from windstorm Friederike expired
- EIOPA publishes 2017 oversight activities report addressed to the European Parliament expired
- esure successfully piloting Synectics Precision solution to plot customer behaviour and prevent potential fraud expired
- Sapiens IDIT solution selected by HDI Sigorta in Turkey expired
- AIG announces the authorisation of new insurance companies in the UK and Luxembourg with Brexit in mind expired
- Generali to sell Belgium arm to Athora Holdings expired
10th January 2018
AXIS Capital receives Lloyd's approval to create single Managing Agency structure
AXIS Capital Holdings and its operating subsidiaries have announced that it has received authorization from Lloyd’s for AXIS Managing Agency Ltd to commence management and oversight of Novae Syndicate 2007 and SPS 6129. The authorisation became effective 11st January, and creates a single managing agent structure for AXIS’ operations at Lloyd’s.
Novae Syndicate 2007 and SPS 6129 will operate alongside AXIS Syndicate 1686, which AXIS Managing Agency currently manages. AXIS has initiated plans to consolidate its Lloyd’s business into AXIS Syndicate 1686, under management of AXIS Managing Agency, and anticipates completing that process from 1st January 2019.
“This marks an important milestone in our continued integration of AXIS’ international specialty insurance business with Novae,” said Mark Gregory, ceo, AXIS Managing Agency, and ceo, AXIS Insurance International Division. “We look forward to continuing to provide our customers with a diversified and balanced portfolio of specialist classes.”
AXIS Syndicate 1686 and Novae Syndicate 2007 underwrite specialist classes that include marine, cyber, energy, aviation, terrorism, construction, property, casualty, political risk and political violence, professional indemnity, and reinsurance, among others.
SPS 6129 is a Lloyd’s special purpose syndicate that underwrites US facilities business. It launched in January 2016 as a collaboration between Novae and Securis Investment Partners LLP, an insurance linked securities fund manager.
AXIS Capital Trends(148 articles)