London, 9 August 2021: Asta, the leading third-party managing agent at Lloyd’s, is pleased to announce that Blenheim Underwriting, a subsidiary of White Bear Capital, has been granted approval by UK regulatory authorities to establish its own Lloyd’s managing agency. The new entity launches with immediate effect.
For the past four years, Asta has supported Blenheim in becoming a fully established syndicate at Lloyd’s where the business has grown significantly to a capacity of £250 million in 2020. It is now one of the market-leading experts in property treaty, D&F property, specialty reinsurance, contingency, and accident & health.
Blenheim’s migration strengthens Asta’s reputation as a provider of tailored solutions to new entrants at Lloyd’s, paired with a flexible model that allows clients to progress to independence or remain under Asta’s management, depending on their long-term strategy.
Peter Scales, chief executive officer (CEO) of Blenheim’s owner White Bear, and a director of Blenheim said: “This is a significant milestone for the group that the team has worked hard to achieve. We would like to thank Asta for acting as our managing agent in the syndicate’s formative years and we look forward to the future as an independent business.”
Julian Tighe, CEO of Asta added: “Although we are sad to see Blenheim move towards independence, we are very proud of the work we have done with the team there. At Asta we try to work collaboratively with all of our customers no matter what stage of business they are in, and it gives us great satisfaction to know we supported Blenheim throughout their first four years at Lloyd’s to the point they felt ready to migrate to their own managing agency. We wish the Blenheim team every success and look forward to announcing more partnerships in due course.”