Lloyd’s approves Dale SPA headed by Swiss Re hire

The Lloyd’s Franchise Board has granted Dale Underwriting Partners ‘in principle’ approval to establish a special purpose arrangement (SPA).

The SPA will support a portfolio of contingency and specialty property business, and will be led by Tom Phillipson, who joins from Swiss Re in September.

Phillipson currently serves as head of special risks at Swiss Re Corporate Solutions. He joined Swiss Re in 2006.

Furthermore, Dale Syndicate 1729 will cede a proportion of the incremental business into the SPA. The planned gross premium of $22 million will be split 40 percent/60 percent between S1729 and the SPA for 2018.

Asta, a Lloyd’s third party managing agency which manages Dale, is working with the syndicate to secure formal approval to commence underwriting business from January 2018.

“I am pleased that Asta could support Dale in its expansion plans and we are always excited to be part of the development of successful businesses,” said Julian Tighe, CEO of Asta.

Duncan Dale, CEO of Dale Underwriting Partners, added: “The SPA structure provides the ideal platform for this innovative and entrepreneurial team and is expected to be hugely positive for Syndicate 1729, both in terms of underwriting profit and fee revenue.”

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