Lloyd’s approves Dale Underwriting Partners SPA€¦ ·  · 2018-03-26Lloyd’s approves Dale Underwriting Partners SPA London, ... led by Tom Phillipson, ... Microsoft Word -

Lloyd’s approves Dale Underwriting Partners SPA

London, 26 July 2017: Dale Underwriting Partners, managed by leading Lloyd’s third party

managing agency Asta, is delighted to announce it has been granted ‘in principle’ approval

by the Lloyd’s Franchise Board to establish a special purpose arrangement (SPA).

Dale Syndicate 1729 will cede a proportion of the new business into the SPA. The planned

gross premium of $22m will be split 40%/60% between S1729 and the SPA for 2018. The

new business is a contingency and specialty property portfolio, led by Tom Phillipson, who

joins Dale from Swiss Re in September.

Asta and Dale are working towards securing formal approval to commence underwriting

business from 1 January 2018.

Julian Tighe, Asta CEO, said: “I am pleased that Asta could support Dale in its expansion

plans and we are always excited to be part of the development of successful businesses.”

Duncan Dale, chief executive of Dale Underwriting Partners, added: “The SPA structure

provides the ideal platform for this innovative and entrepreneurial team and is expected to be

hugely positive for Syndicate 1729, both in terms of underwriting profit and fee revenue”

-Ends-

Press enquiries: Damian Beeley/ Sam Whiteley +44 (0)207 562 4444 [email protected] [email protected] Note to Editors: About Dale Underwriting Partners Dale Underwriting Partners is an independent, owner-managed, Lloyd’s syndicate with market leading underwriting, claims and operational expertise. Led by Duncan Dale and a team of highly experienced Lloyd’s underwriters, Syndicate 1729 focuses on; property reinsurance, property insurance and casualty and has a stamp capacity of £100m. About Asta

Asta Capital Limited is the parent company of:

§ Asta Insurance Markets Ltd § Asta Managing Agency Ltd § Asta Insurance Services Ltd § Asta Management Services Ltd § Asta Underwriting Management Ltd

Asta Managing Agency Ltd is the leading third party managing agent at Lloyd’s and is responsible for nine syndicates with capacity under management in 2016 of approximately UK£1bn:

Syndicate 1686 (Axis)

Syndicate 1729 (Dale Underwriting Partners)

Syndicate 1897 (Skuld), SPA 6126

Syndicate 2357 (Nephila)

Syndicate 2525 (DL Dale & Others)

Syndicate 2689 (Verto)

Syndicate 2786 (Everest)

Syndicate 4242 (ICAT), SPA 6123 (ICAT)

Syndicate 5886 (Blenheim)

MGAs

Asta Underwriting Management Limited (AUML) launched in 2015, making the skills, experience and capabilities behind Asta’s success as the leading third party managing agency at Lloyd’s available, for the first time, to the MGA market.

MGAs under management:

- Pelican Underwriting Management - OverArk Limited - Arma Underwriting Limited