Victor launches Lloyd's Syndicate 2288
Jill Frances named Active Underwriter
Victor Insurance Holdings, the world's largest managing general underwriter (MGU), today announced approval from Lloyd's, the specialist insurance market, to establish Victor Syndicate 2288 and commence underwriting effective January 1, 2020 with stamp capacity of £57m, supporting a business plan of $100m USD.
Asta will be the managing agent for the new syndicate, providing underwriting oversight and operational support. Victor Syndicate 2288 will support Victor's underwriting of property and casualty (P&C) business in the US, UK, Italy, and the Netherlands. The syndicate will also provide opportunities for capital partners to participate in risks underwritten by its underwriting hubs in Boulder, Colorado, US; London, UK; Rotterdam, Netherlands; and Milan, Italy.
“We have extensive history with Lloyd's as a coverholder and are delighted to broaden our strategic relationship with such a vital market. Lloyd's digital-forward approach aligns well with Victor's digital innovation and our international expansion plans,” said Anthony Stevens, President, Victor International.
In the US, the syndicate will provide ongoing support to serve the needs of small commercial properties in catastrophe-exposed areas.
“The Victor syndicate will enable us to respond to the needs of underserved clients in catastrophe-exposed areas of the US through our subsidiary, ICAT. Under the Lloyd's banner, we are well positioned to serve the needs of our policyholders and our network of independent agents and brokers,” commented Brian Hanuschak, President, Victor North America.
The Active Underwriter for Victor Syndicate 2288 will be Jill Frances, who will also assume the role of Chief Underwriting and Operations Officer for Victor International. Ms. Frances reports to Mr. Stevens and relocated to London on December 1 this year.
Ms. Frances was formerly Managing Director for Victor US and brings over 20 years of experience in specialty underwriting, recently running their professional liability division. Kevin Collins will become executive leader of the Architects and Engineers division at Victor US. Kevin has 30 years of experience with Victor and the A&E program. Zach Vollmer will remain the leader of the Real Estate Program.
Julian Tighe, CEO of Asta, said: “This is our second launch at Lloyd's this year, and we look forward to working with Jill and her team as they re-position their business for future growth under the Lloyd's franchise.”
About Victor Insurance
Victor Insurance Holdings, formerly known as The Schinnerer Group, is the world's largest managing general underwriter with locations in the US, Canada, UK, Netherlands, Germany, Italy and Australia. It handles more than $1.5 billion in premium on behalf of numerous insurance carriers, through a large network of more than 25,000 active insurance agents and brokers. With deep, specialized underwriting expertise, the company provides a wide range of insurance coverage – from specialty property and casualty and professional liability insurance to group and retiree benefits. Victor Insurance is committed to building on 60-plus years of experience to develop products that address risk in new and evolving areas. For more information, visit www.victorinsurance.com.
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 2019 of more than £1.0bn:
- Syndicate 1729 and SPA 6131 (Dale Underwriting Partners)
- Syndicate 1897 (Skuld)
- Syndicate 2525 (DL Dale & Others)
- Syndicate 2689 (Verto)
- Syndicate 2786 (Everest) and SPA 1892 (MPS)
- Syndicate 4242 (Beat)
- Syndicate 5886 (Blenheim)
- Syndicate 3268 (Agora)
- Syndicate 1980 (Pioneer)
- Syndicate 2288 (Victor)
Asta Underwriting Management Limited (AUML) brings the skills, experience and capabilities of the leading third party managing agency at Lloyd's to the MGA market. MGA under management:
- Arma Underwriting Limited