ERS Syndicate Management Limited
Managing Agent Name: ERS Syndicate Management Limited
Subject: 2020 Syndicate Business Plan and Capital Requirements
Syndicate Affected: 218
Lloyd’s have agreed managed syndicate 218’s Syndicate Business Plan and capital requirements for the 2020 year of account.
The detailed feedback to the Syndicate’s capital submission included the following:
“In the event that ERS does not resolve feedback provided (by Lloyd’s) on the capital model by 31st January 2020 CPG has indicated that it will wish to revisit the capital requirement and at that time will look to apply the usual syndicate capital requirement increase of 20%, for non-compliance with Solvency II requirements. “
ERS Syndicate Management Limited will continue to work closely with Lloyd’s to resolve any identified issues within the deadline of 31st January 2020.
Date issued: 18/10/2019
Agency contact name: Peter Merrett
Agency contact no: + 44 (0)203 824 5589
For auction office use only: D2019003
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