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Victor Insurance Holdings, the managing general underwriter unit of Marsh & McLennan Cos. Inc., has been approved by Lloyd’s of London to establish a syndicate, which will start underwriting on Jan. 1, 2020, the MGU announced Tuesday.
With a stamp capacity of £57 million ($74.9 million), syndicate 2288 will offer coverage for small commercial properties in catastrophe-exposed areas of the United States and support Victor’s underwriting of property/casualty business in the United Kingdom, Italy and the Netherlands, Victor said in a statement.
The syndicate will be managed by Asta Managing Agency Ltd. The active underwriter will be Jill Frances, who was also named chief underwriting and operations officer for Victor International. Previously, she was managing director of Victor US.
“We have extensive history with Lloyd’s as a coverholder and are delighted to broaden our strategic relationship with such a vital market,” said Anthony Stevens, president of Victor International, in the statement.
Marsh & McLennan rebranded its MGU operations as Victor last year.
The Schinnerer Group, Marsh & McLennan Cos. Inc.’s underwriting manager unit, said Tuesday it is rebranding as Victor.