Ironshore unit to set up GIC Re's syndicate at Lloyd's

The Lloyd's of London Franchise Board has granted in principle approval to Bermuda-based insurer Ironshore Inc.'s unit U.K.-based Pembroke Managing Agency Ltd. to set up reinsurer General Insurance Corp. of India's syndicate at Lloyd's, The Royal Gazette reported. Alice Vaidyan, chairman of GIC Re, said that the syndicate will help the reinsurer to broaden diversification and leverage deployment of capital resources.

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