Apollo Syndicate Management, the London-based independent specialist insurer and reinsurer, announced it has been granted in-principle approval from the Council of Lloyd’s to convert Special Purpose Arrangement (SPA) 1971 into a standalone syndicate.
The SPA 1971 was launched in January 2019 at Lloyd’s and specializes in servicing client solutions for innovative companies in the sharing economy through a collaborative and engaged underwriting, actuarial, and data science approach.
“The Lloyd’s approval in principle paves the way for Apollo’s next step on its strategic growth plan,” said Matt Newman, chief strategy & innovation officer.
“It is an exciting future for the ibott team, led by Chris Moore, who are dedicated to delivering innovative solutions to the global sharing economy and bringing new clients to Lloyd’s,” he continued. “Becoming a standalone syndicate provides increasing flexibility and opportunity for our capital providers, strengthens our partnerships, and allows even more focus on our obsession with ‘client first’ engagement.”
Source: Apollo Syndicate Management
Topics Excess Surplus Lloyd's
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