QIC subsidiary 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 £310mn to £360mn.
The increase reflects the current market environment, says Antares, in particular the strengthening of the US dollar, growth in profitable classes and exposure-rated inflation.
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.
At the time, Michael van der Straaten, CEO of QIC Global and Qatar Re, commented, “I am extremely pleased to announce that, following a review, a rebrand will see QIC Global core companies adopt the Antares brand name, which better reflects the internationality of our operations and is more fitting for a growing specialty re/insurance business.”
“Being independent of any geographic location, the Antares name provides us with greater flexibility to add new corporate entities and insurance related services, which will help facilitate further growth and our future success.”
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.
