Canopius Managing Agents Limited
Managing Agent Name: Canopius Managing Agents Limited
Subject: Resubmitted Syndicate Business Forecast for 2020 YOA
Syndicate Affected: 4444
On the 18th April 2019, Canopius entered into an agreement with AmTrust to, amongst other things, acquire their corporate member, AmTrust Corporate Member Limited, and novate the management of Lloyd’s Syndicate No. 1861 (“S1861”) over to Canopius Managing Agents Limited (“CMAL”) (the “Transaction”).
As a result of the Transaction, CMAL applied to Lloyd’s, and has since received their approval, to operate S1861 and Lloyd’s Syndicate No. 4444 (“S4444”) under a split-stamp arrangement for the 2020 year of account in accordance with the Multiple Syndicates Bye-law. All risks will be written in a 35:65 proportion between S1861 and S4444, reflecting the gross written premium in the approved Syndicate Business Forecast (“SBF”) of each syndicate.
Completion of the Transaction occurred on 2nd October 2019 and, on the 17th October 2019, CMAL resubmitted the SBF for S4444 which reflects the split-stamp arrangement. CMAL is awaiting Lloyd’s agreement to the SBF re-submission, however copies have been provided to the members’ agents and are available to all members of S4444 from the office of CMAL, at Gallery 10, One Lime Street, London EC3M 7HA upon request.
It remains the intention to merge S1861 and S4444 for the 2021 year of account.
Date issued: 21 October 2019
Agency contact name: Adam Timms
Agency contact no: + 44 (0) 20 7337 3768
For auction office use only: D2019005
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