Managing Agent Name: Canopius Managing Agents Limited
Subject: Merger of Syndicates 4444 and 0958
Syndicate(s) Affected: Syndicates 4444 and 0958
Canopius Managing Agents Limited (“CMA”) has received permission from Lloyd’s to merge Syndicate 958 with Syndicate 4444 from the 2016 year of account.
Consequently, all new and renewal syndicate business accepted by CMA for the 2016 year of account will be written by Syndicate 4444. This syndicate is currently planned to have a stamp capacity for the 2016 year of account of £975m (per the SBF 2016 submitted to Lloyd’s in July).
This move simplifies the operation of the business written by the syndicates. It followed a ballot of syndicate membership in which all valid votes received were in favour of the proposed merger.
Syndicate 958 will continue to be managed by CMA until the 2015 year of account is reinsured to close, which is expected to be into Syndicate 4444 on 31 December 2017. For the 2015 year of account, all CMA syndicate business was written on a split stamp basis: 80% Syndicate 4444; 20% Syndicate 958.
Date issued: 17/08/2015
Agency contact name: Bradley Cass
Agency contact no: + 44 (0)20 7337 3798
For auction office use only: D2015002
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