Capita Managing Agency has also received approval from Lloyd’s to manage a new syndicate which will commence underwriting on June 30th, 2010. Syndicate 2232 will be capitalised by a subsidiary of Allied World Assurance Company Holdings Ltd. The syndicate will offer select product lines, which include international property, general casualty, professional lines and international treaty, targeted at key territories such as countries in Latin America and the Asia Pacific region.
Capita Managing Agency has spent some time shaping its management team and agency model, ensuring it is well positioned to meet the flexible demands of potential market entrants. In addition it has wider access to the extensive resources offered by the Capita Group. These include underwriting support, claims management, accounting and compliance expertise, IT provision and property management, enabling Capita Managing Agency to offer clients a full menu of the services required by businesses seeking to enter the Lloyd’s market
Iain Bremner, chief executive officer, of Capita Managing Agency, said: “We are delighted to have gained Lloyd’s approval to manage the Allied World syndicate, 2232 and we look forward to working closely with Allied World to help them achieve their ambitions at Lloyd’s. The combination of our strong agency and access to back office support, via the wider Capita Group, is a powerful one that we believe will prove attractive to potential new entrants to Lloyd’s.”
For further information:
Media enquiries only:
Caroline Mooney
Capita press office
Tel: 0207 654 2152 or 020 7654 2399 out of hours
Capita Managing Agency is a wholly-owned subsidiary of Capita Insurance Services Limited. Capita Insurance Services supplies outsourced services across the London Market, Capita Managing Agency is independent to this area of the business The Capita Group Plc has operated a Lloyd’s managing agency for over 10 years.
The Capita Group Plc is the UK’s leading provider of BPO and integrated professional support service solutions. With 36,000 people at more than 300 sites, including 59 business centres across the UK, Ireland, the Channel Islands and India, the Group uses its expertise, infrastructure and scale benefits to transform its clients’ services, driving down costs and adding value. Capita is quoted on the London Stock Exchange (CPI.L), and is a constituent of the FTSE100 with revenues for 2009 of £2,687 million. Further information on The Capita Group Plc can be found at: http://www.capita.co.uk