Asta, the third-party managing agent at Lloyd’s, announced that Agora Syndicate 3268 has received approval from Lloyd’s to commence underwriting business attaching on or after Jan. 1, 2018.
Agora Syndicate 3268 will be managed by Asta and is privately capitalized by a number of well-known industry players, said a statement issued by Asta, which is responsible for 10 syndicates with capacity under management in 2017 of approximately £1 billion ($1.3 billion).
Agora Syndicate 3268 has planned gross premium of £98 million ($129.2 million) for 2018 and its active underwriter will be Mike Pritchard. It will underwrite property business with a focus on direct & facultative, binders and treaty business worldwide.
Agora was initially launched as Special Purpose Arrangement (SPA) 6126 in 2016. Syndicate 3268 received “in principal” approval from Lloyd’s Franchise Board in September this year.
“Since launching in 2016, our long-term ambition has been to establish Agora as a market-facing syndicate,” said Agora CEO Mike Pritchard. “I am very pleased to confirm that we will commence underwriting business as Agora Syndicate 3268 in the new year. This is evidence of our success, market expertise and the hard work of the team. I look forward to continuing the Agora story with the team and the support of all our capital partners and managing agent Asta.”
Julian Tighe, CEO at Asta, added: “We are very pleased that Agora has received approval to underwrite as a market-facing syndicate. We look forward to continuing to work with the Agora team and provide underwriting management, regulatory and business support, which will help ensure its success into 2018 and beyond.”
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