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Member, Beacon International Group, Ltd.
LONDON—Ascot Underwriting Ltd. said it has increased the capacity of its Lloyd’s of London syndicate 1414 to take advantage of what it described as improved market conditions, particularly the reinsurance sector.
In a statement Monday, Ascot said it had increased capacity of the multiline syndicate to £650 million ($1.04 billion) from £600 million ($957.5 million).
Andrew Brooks, CEO of Ascot Underwriting, said the move enables the syndicate to take advantage of improved conditions and to “expand our business wherever possible.”
Syndicate 1414 underwrites property, energy, specie and fine art, cargo, terrorism, war and political risks, marine hull/war/liability, natural resources and excess-of-loss reinsurance business.