Asta Managing Agency Ltd (Asta) has today confirmed that the Lloyd’s Franchise Board has granted ‘in principle’ approval for them to establish and manage a new dedicated corporate syndicate backed by Everest Re Group, Ltd, with initially £102m gross premium for 2016.

Everest and Asta are working to secure the final approvals to commence underwriting business incepting January 1, 2016. The new syndicate will write a diversified book of business and will be the hub of Everest’s international insurance operation. The business will be predominantly new to Lloyd’s. The Active Underwriter will be Andrew Carrier.

Julian Tighe, Asta CEO, said: “We are very pleased to have received ‘in principle’ approval from Lloyd’s. Everest has an impressive Insurance and Reinsurance platform and we are proud to partner with them in establishing Syndicate 2786.”

Daryl Bradley, Head of International Insurance at Everest Re Group, added: “Syndicate 2786 provides Everest with the platform to develop our international insurance business. We have a strong track record of building profitable insurance and reinsurance businesses and look forward to working with Asta and Lloyd’s to ensure we maintain that success with our new syndicate.”

The launch of the Everest Syndicate will bring the number of Asta’s managed Lloyd’s syndicates to eight.

Press enquiries:

Matthew Longbottom, FWD
Tel: +44 (0)20 7623 2368
Mob: +44 (0) 7798 758 938
Email: matthew.longbottom@fwdconsulting.co.uk

Matt Beasley, FWD
Tel: +44 (0)20 7623 2368
Mob: +44 (0)7623 241 153
E-mail: matt.beasley@fwdconsulting.co.uk

Notes to editors:

About Asta
Asta Capital Limited is the parent company of:

• Asta Insurance Markets Ltd
• Asta Managing Agency Ltd
• Asta Insurance Services Ltd
• Asta Management Services Ltd
• Asta Underwriting Management Ltd

Asta Managing Agency Ltd is the leading third party managing agent at Lloyd’s and is responsible for seven syndicates with capacity under management in 2015 of approx US$1bn:

Syndicate 1686 (Axis)
Syndicate 1729 (Dale Underwriting Partners) Syndicate 1897 (Skuld)
Syndicate 1910 (Ariel)
Syndicate 2357 (Nephila)
Syndicate 2525 (DL Dale & Others) Syndicate 4242 (ICAT)
Syndicate 2786 (Everest) from 1/1/2016

For more information visit www.asta-uk.com