LONDON — Specialty insurance underwriter CFC reported that Lloyd’s of London has given preliminary approval to the creation of CFC Syndicate 1988.
The new syndicate will be managed by Asta Managing Agency Ltd.
CFC and Asta said they are working to secure final approvals to begin underwriting business starting July 1, 2021.
The syndicate will write a cross-section of CFC’s portfolio of specialist, emerging and digital economy risks with planned gross premium of over £100 million for its first year of trading.
Capital is being provided by CFC and third-party capital-providers.
Headquartered in London, managing general agency CFC also has offices in New York, Austin, Brussels and Brisbane.
Asta manages 11 syndicates at Lloyd’s.
Topics Excess Surplus Lloyd's
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