The syndicate has assumed the management of the 2008 and prior years of Syndicate 1861 (formerly managed by Flagstone Syndicate Management Limited).
The claims and reinsurance activities for syndicate 2255 will be outsourced to Resolute Management Ltd, part of the Berkshire Hathaway Group.
In addition Capita Managing Agency has agreed to assume the reinsurance to close (RITC) of Syndicate 340, formerly managed by Travellers Syndicate Management Ltd, into Syndicate 2255. The claims and reinsurance recovery work will also be handled by Resolute Management Ltd.
Iain Bremner, CEO at Capita Managing Agency said: “I am pleased to announce that Capita Managing Agency has widened its activities further with its appointment as managing agent for Syndicate 2255. With the recent successful completion of our work to secure the RITC of run-off Syndicate 5500, these transactions further underline our abilities to manage both live and run off syndicates. Capita Managing Agency is well placed to help businesses that are seeking to establish new Lloyd’s syndicates in the future. The combination of our strong agency and access to the wider Capita Group services is a powerful one that we believe is 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 37,000 people at more than 350 sites, including 64 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 2010 of £2,744 million. Further information on The Capita Group Plc can be found at: http://www.capita.co.uk