Article ID: 5dec789d20fe7196d92816d4a190d32f64c3b6b6339a0b78c5085c8732893f52
Source ID: secondary:insurancetimes.co.uk
Published At: -
Extraction Method: trafilatura
Body Text
’While we have long been actively managing the Syndicates, becoming a Lloyd’s Managing Agent enhances our capabilities and further enables us to add value to the Lloyd’s market,’ says chief executive Octave Ventures-owned Statera Managing Agency has received regulatory approval to act as a Lloyd’s Managing Agent. Statera will manage Syndicates 4242 and 1416, which currently underwrite specialty risks produced through their strategic relationship with Octave Ventures. Prior to the approval, the Syndicates’ managing agent was Asta Managing Agency, with Octave Ventures guiding the strategy and delivering day-to-day operations under a management agreement. ‘Significant milestone’ The Syndicates will benefit from Lloyd’s A+ financial strength rating, global licenses and flexible access to capital from a diverse investor base comprising reinsurers, high net worth individuals and institutional investors. Read: Risk partner secures regulatory approval to underwrite business Read: Lloyd’s of London is ‘a highly compelling platform for third party capital’ Explore more London market-related content here, or discover other news here Commenting on the approval, Scott Fordham, chief executive at Statera, said: “This is a significant milestone. “While we have long been actively managing the Syndicates, becoming a Lloyd’s Managing Agent enhances our capabilities and further enables us to add value to the Lloyd’s market. ”We expect a seamless transition of Syndicate management with minimal operational change, as Octave Ventures already provides much of the infrastructure supporting the Syndicates.” With a range of freelance experience, Harriet has contributed to regional news coverage in London and Sheffield, as well as music and entertainment reporting across various publications.View full Profile Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance. No comments yet
Metadata (JSON)
{
"score": 4.9
}