Antares
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The maximum line for the consortium will initially be $40mn.
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The syndicate improved its net loss ratio by 15.9pp to 54.2%.
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Alexander Craggs spent more than a decade working for the QIC-owned Lloyd’s business.
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Antares Re recorded GWP of $854.5mn for 2022, of which $728mn was written in Europe.
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Oden Grenville joins from Starr Insurance Companies, where he held the role of senior underwriter for A&H.
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The underwriter has a background in marine and energy reinsurance and has more than 17 years’ experience.
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The agency said the financial strength ratings downgrade reflected a revision in its assessment of Qatar Insurance Company’s operating performance from strong to adequate.
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The move comes after Antares Syndicate 1274 secured a 16% stamp capacity increase for 2023.
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The managing agency’s syndicate will see its stamp capacity increase to £360mn in 2023, from £310mn this year.
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Piraeus Bank bought the action against Antares over the detention of a vessel in Venezuela in 2015.
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Neil Jarman joined Antares back in 2016 to head up the carrier’s new casualty treaty division.
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The appointment comes after marine liability underwriter Ellie Barr resigned to join Convex.