Argenta
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The business said the decision will enable Argenta to simplify operations and focus on the development of its London underwriting base.
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Syndicate 2121’s reinsurance manager will exit after just under five years with the business.
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QBE, Argenta and Blenheim syndicates also plan significant growth to capitalise on market conditions.
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Andrew Hubbard will take on the role of executive chairman.
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Casualty insurance head Bradley Knight will work alongside fellow deputy Barney Smythe.
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The Fidelis UK CEO will run Syndicate 2121 and SPA 6134.
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Covid-19 uncertainties have prevented the two syndicates from closing out the 2018 YoA.
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The mixed ruling delivered by the High Court meant insurers escaped from worst-case loss scenarios.
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The fundamental issue of causation, as well as trends clauses and the Orient Express judgment, will be under scrutiny.
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Pre-emptions in the mid-teens and above suggest that Lloyd’s is willing to permit exposure growth for some syndicates.
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The syndicate’s managing agency says the search is on to replace active underwriter Ian Maguire.
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The hotly anticipated judgment will be a milestone in the ongoing dispute about how carriers respond to Covid lockdown-related losses.
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