Antares Global Management (AGML Bermuda) has received approval from Lloyd’s to operate as a Lloyd’s in-house coverholder.
This will enable AGML Bermuda to write Lloyd’s business on behalf of Antares Syndicate 1274 from Bermuda, in addition to the managing agent’s operations in Singapore, Antares Underwriting Asia Pte Limited.
Michael van der Straaten, CEO of Antares, said: “I am delighted to announce that Antares has been granted this approval by Lloyd’s, which effectively enables us to make all our Lloyd’s product lines much more accessible to brokers. This is one of several initiatives underway to strengthen the business as it continues to expand to meet our ambitious growth targets.”
This news comes a few weeks after Antares Managing Agency has announced that Antares Syndicate 1274’s 2023 business plan has received formal approval from the Lloyd’s Capital and Planning Group. Syndicate 1274’s Syndicate Business Forecast includes a 16% increase in stamp capacity for 2023 from £310m to £360m.
Antares comprises the international operations of Qatar Insurance Group, including their reinsurance and Lloyd’s insurance arms
In September, specialty re/insurer QIC Global, a subsidiary of Qatar Insurance Group, announced its intention to align its core companies under the Antares name, creating a single identity to unify the brand across respective entities.
Additionally, at the end of September, Antares announced that Antares Syndicate 1274 had been ranked number one for investment performance in JP Morgan’s Asset Management’s Lloyd’s Peer Analysis.
