Lloyd’s syndicate Probitas 1492 has announced the launch of a special purpose arrangement (SPA) for the 2024 year of account (YOA), after receiving in-principle approval from Lloyd’s.
The SPA, called “AdA SPA 2024,” is headed up by ex-Munich Re Syndicate Deputy CUO Natasha Jodrell. Jodrell is a marine & specialty insurance veteran having spent nearly 30 years at the Watkins Syndicate and Munich Re Syndicate focusing on strategic planning, reinsurance and corporate culture.
“We are excited to develop an underwriter led platform, delivering profit across the cycle supporting clients and London market brokers with strong leadership in both underwriting and claims,” Jodrell said.
The AdA team aims to develop a diverse portfolio of marine & specialty business, building out from the existing portfolio they have underwritten on behalf of Probitas 1492 Syndicate for the 2023 year of account. The portfolio was produced following the arrival of the ex-Munich Re energy team headed up by James Grainger.
“We are delighted to be part of the Probitas family who share our corporate culture and client focused goals. They have been incredibly supportive as we develop the AdA platform,” Grainger said. (The SPA will be hosted by Probitas 1492).
Antony Dodson, Probitas CUO and active underwriter, commented: “We are very pleased to have received in-principal approval for the AdA SPA for 2024. Probitas is looking forward using its expertise and capital to support the AdA team deliver market leading performance and client service for which they are renown.”
Jodrell went on to acknowledge the strong support of the company’s reinsurers and consortium partners, “as well as Howden Tiger as our advisers throughout the process.”
About Probitas 1492
Probitas 1492 specialize in underwriting property, construction, casualty, financial lines and cyber insurance/facultative reinsurance. Probitas 1492 underwrites a geographically diverse portfolio on a worldwide basis, but with limited appetite for mainland USA exposure.
Source: Probitas 1492
Topics Excess Surplus Lloyd's
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