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Member, Beacon International Group, Ltd.
LONDON A multiline Lloyd's of London syndicate, Barbican 1955, was launched Thursday.
The syndicate will have stamp capacity of £75 million ($154.6 million) and has obtained in-principle approval from the Lloyd's Franchise Board to begin underwriting for the 2008 year of account.
The syndicate is supported by two U.S. private investment funds, New York-based Steel Partners II L.P. and funds managed by Dallas-based Carlson Capital L.P., as well as members of Barbican's management team, Singapore-based Whittington Group Pte. Ltd. and Kinmont Advisory.
It will underwrite a broad-based portfolio, the company said in a statement. It will begin with writing international property, casualty reinsurance, treaty business and other specialist lines.