Pioneer Underwriters receives approval to start underwriting 1/1/2018
Pioneer Underwriters today announces that it has received approval from Lloyd’s for Syndicate 1980 to commence underwriting business attaching on or after 1 January 2018. Pioneer Syndicate 1980 will have a gross premium income of £278m and will underwrite a broad cross-section of business including Property, Casualty, Marine and Energy. The Syndicate will be managed by Asta.
Darren Doherty, Chief Executive Officer, Pioneer Underwriters said: “The launch of the Syndicate 1980 is an important next step in the execution of Pioneer’s long-term strategic objectives and supports development of the business. We have built a robust operating platform to underpin delivery of our technical and specialist underwriting expertise to our clients and capital providers.”
Julian Tighe, Chief Executive Officer, Asta said: “Pioneer is an impressive business and it has been a pleasure working with the Pioneer team to create Syndicate 1980. I’m confident that Asta’s expertise and depth of market knowledge will offer Pioneer all the business support it needs to develop its underwriting into its own Syndicate at 1 January 2018.”
For further information, please contact:
Haggie Partners
Peter Rigby
peter.rigby@haggie.co.uk
Tel: + 44 20 7562 4444
Samantha Whiteley
Samantha.Whiteley@haggie.co.uk
Tel: + 44 20 7562 4444
Notes for Editors
About Pioneer
Pioneer Underwriters, the underwriting group within Minova Insurance Holdings Ltd, launched in April 2011 and trades as both a risk carrier and MGA/MGU with full delegated underwriting authority in over 120 Lloyd’s class codes using a pre-analysed broker portfolio as its foundation. Pioneer operates with the backing of Liberty Syndicate 4472 and manages circa £350m of premium via 22 underwriting teams across Property, Marine and Casualty classes. Pioneer underwrites via over 25 facilities operating via Lloyd’s and Non-Lloyd’s platforms. Pioneer has delegated authority arrangements with 29 markets, TOBA’s with 130 London and overseas brokers and nationwide distribution capability across the US.
For more information, visit: http://www.pioneeruw.com/
About Asta
Asta Capital Limited is the parent company of:
- Asta Insurance Markets Ltd
- Asta Managing Agency Ltd
- Asta Insurance Services Ltd
- Asta Management Services Ltd
- Asta Underwriting Management Ltd
Asta Managing Agency Ltd is the leading third party managing agent at Lloyd’s and is responsible for 10 syndicates and two SPAs with capacity under management in 2018 of more than UK£1bn:
- Syndicate 1729 and SPA 6131 (Dale Underwriting Partners)
- Syndicate 1897 (Skuld)
- Syndicate 2357 (Nephila)
- Syndicate 2525 (DL Dale & Others)
- Syndicate 2689 (Verto)
- Syndicate 2786 (Everest)
- Syndicate 4242 and SPA 6123 (Paraline)
- Syndicate 5886 (Blenheim)
- Syndicate 3268 (Agora)
- Syndicate 1980 (Pioneer)
MGAs
Asta Underwriting Management Limited (AUML) launched in 2015, making the skills, experience and capabilities behind Asta’s success as the leading third party managing agency at Lloyd’s available, for the first time, to the MGA market.
MGAs under management:
- Pelican Underwriting Management
- OverArk Limited