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13 November 2018Insurance

Lloyd’s approves Arcus 1856 business plan for 2019

Lloyd’s has approved the 2019 business plan of Arcus 1856 syndicate with an increase in property insurance capacity.

The business plan sees Arcus 1856 maintain its focus on all current business lines across the syndicate’s property and specialty portfolio. In addition, there will be an increase in capacity for property insurance.

Lloyd’s of London has been taking action to reduce the market’s exposure to unprofitable lines and the size of the worst-performing syndicates.

Syndicates have been asked to conduct in-depth reviews of the worst-performing 10 percent of their portfolios along with all loss-making lines and have been submitting their relevant remediation plan for approval as part of the 2019 business planning process.

“Arcus 1856 operates a well-diversified portfolio of business and in 2019 our aim will be to ensure the ongoing profitability of that portfolio by maintaining strict underwriting discipline across all lines of business,” said Adrian Gfeller, managing director, Arcus 1856.

Arcus 1856 is 100 percent backed by funds managed by the Credit Suisse ILS division.

Managed by Barbican Managing Agency Limited, part of Barbican Insurance Group, Arcus 1856 has a 2018 stamp capacity of £104.2 million.

Focusing primarily on providing reinsurance solutions, the company operates a portfolio across property reinsurance and speciality lines, including energy, cyber, space and aviation, on a proportional, risk XL and Cat XL basis, with the ability to offer innovative ILS solutions.

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More on this story

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11 July 2019   Arcus Syndicate 1856, which is managed by Barbican Managing Agency, has hired Alex Shepherd as active underwriter from RenaissanceRe Syndicate 1458 where he was head of property.
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9 May 2019   Arcus Syndicate 1856, which is managed by Barbican Managing Agency, has appointed Nick James as underwriting manager for North America property treaty.
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22 October 2018   Lloyd’s has accelerated its profitability review as it attempts to turn around underperforming syndicates—but as its latest results prove, there remains a long and potentially winding road ahead. Intelligent Insurer reports.