Coverys Managing Agency Ltd. announced that its DTW Syndicate 1991 at Lloyd’s of London will stop accepting new and renewal business starting December 31, 2020.
“Every effort has been made to implement remediation measures on underperforming business over the past few years, however, the results have not improved sufficiently to deliver a sustainable and long-term profitable outcome,” said Robin McCoy, CEO of Coverys Managing Agency.
The syndicate’s lines of business include property, liability, professional indemnity, directors and officers, and accident and health.
U.S.-base Coverys is a medical professional liability insurer that began expanding internationally in 2017 by forming Coverys Syndicate 1975 and Coverys Managing Agency to serve the Lloyd’s market. Coverys Managing Agency also oversees Syndicate 3330.
Topics Excess Surplus Talent Lloyd's
Was this article valuable?
Here are more articles you may enjoy.
Insurance Broker Stocks Sink as AI App Sparks Disruption Fears 
Trump’s EPA Rollbacks Will Reverberate for ‘Decades’ 
‘Structural Shift’ Occurring in California Surplus Lines 
Florida Insurance Costs 14.5% Lower Than Without Reforms, Report Finds 
