Pioneer Underwriters announced it has received approval from Lloyd’s for Syndicate 1980 to commence underwriting business attaching on or after Jan. 1, 2018.
Pioneer Syndicate 1980 will have a gross premium income of £278 million ($371.2 million) and will underwrite a broad cross-section of business including property, casualty, marine and energy, Pioneer said in a statement.
The syndicate will be managed by Asta, the third party managing agent at Lloyd’s.
“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,” said Darren Doherty, chief executive officer, Pioneer Underwriters.
“We have built a robust operating platform to underpin delivery of our technical and specialist underwriting expertise to our clients and capital providers,” he added.
Source: Pioneer Underwriters