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Argenta Syndicate Management Limited

Managing Agent Name:  Argenta Syndicate Management Ltd (ASML)

Subject: Business Plan, Resignation of Active Underwriter, Other Board Changes and Forecast Result Ranges

Syndicate(s) Affected: 2121 and 6134

  1. Syndicate 2121 – 2021 Business Plan and Capital Submission
    ASML is pleased to confirm Lloyd’s agreement to its business plan and capital submission for 2021. The Syndicate is targeting gross written premium income of £634m and confirms its plan to increase its stamp capacity for 2021 to £600m subject to the approval of capital providers.
  2. Ian Maguire
    Ian Maguire, Active Underwriter of Syndicate 2121 and SPA 6134, tendered his resignation from both roles and as a Director of ASML on 28th September 2020. Ian is currently serving his notice period of 12 months and ASML has engaged a search and selection consultancy with significant London Market experience to run a formal process in order to appoint a successor. Further details concerning an appointment will be made in due course. In the meantime, the Company would like to thank Ian for his considerable efforts over the last fifteen years and wishes him well in his future endeavours.
  3. Carol-Ann Burton
    ASML is also pleased to announce that Carol-Ann Burton, Group Risk Management & Compliance Director, Argenta Holdings Limited has been appointed to the Board of ASML with effect from 10th September 2020. Carol-Ann, a qualified solicitor, has extensive insurance regulatory and compliance experience gained from within the legal profession, commerce and a stint with the FSA, the forerunner in the UK to the PRA and FCA. Carol-Ann joined the Group back in May from law firm, Holman Fenwick Willan where she was a Partner in the London Insurance Practice.
    In addition to her role at Group level, Carol-Ann has assumed the responsibilities previously assigned to Matthew Rowan.
  4. Matthew Rowan
    Matt Rowan, ASML’s Risk Management & Compliance Director and Group CRO, left the Company on 2nd October 2020 to embark on a new career in Australia. The Company thanks Matt for his significant contribution to the business and wishes him well for the future.
  5. Forecast Result Ranges
    The Syndicate 2121 forecast result ranges that are expected to be published in the Q3 QMA as at 30th September 2020, are as follows:
  • 2018 – (3.5%) to (13.5%)
  • 2019 – +2.5% to (12.5%)

    These remain unchanged from the forecast results reported in the Q2 QMA as at 30th June 2020.

Date issued: 19th October 2020

Contact Information

Agency contact name: Carol-Ann Burton

Agency contact no: + 44 (0)20 7825 7116

For auction office use only: D2020005

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