Lloyd’s syndicate Probitas 1492 announced that Lloyd’s has given formal approval for its special purpose arrangement (SPA), which will begin underwriting in the 2024 year of account.
The SPA, called “AdA SPA 2024,” aims to develop a diverse portfolio of marine, energy and specialty business, according to Probitas in September, when its plans to launch the unit were first announced.
“This is another step forward for Probitas as we continue to grow and diversify our business whilst maintaining strong focus on delivering market leading underwriting performance” commented Antony Dodson, chief underwriting officer, Probitas.
The AdA team also announced the appointment of Ed Abbott to be head of Marine and Energy Liability.
Abbott spent seven years at the Hartford Syndicate starting as practice lead before becoming head of Marine and Energy Liability in 2020. Prior to that he spent six years at XL Catlin, working on the Marine and Energy Liability account.
“The Marine and Energy Liability Account will form an integral part of the AdA SPA 2024. Ed is highly regarded in the market and further enhances the leadership capabilities of the AdA Team,” commented Natasha Jodrell, managing director of AdA.
“We look forward to welcoming Ed, who will join us next year, to support the ongoing development of our underwriting led platform. His recruitment is a fundamental step in our strategy of building a team of market leading underwriters and claims practitioners,” Jodrell added.
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