Argenta Syndicate Management Limited (ASML), a subsidiary of the broader group, is to cease underwriting all new and renewal business relating to the Lloyd’s China platform (LICCL).
This decision is effective immediately.
ASML says it will work with LICCL to continue servicing existing business, and ensure that the run-off is conducted in an effective and orderly manner.
“The decision to withdraw our support from the Lloyd’s China platform has not been taken lightly and will enable us to simplify operations and focus on the development of our London underwriting base and other international platforms,” said Andrew Annandale, Managing Director of ASML and Chief Executive Officer of ASML’s parent, Argenta Holdings Limited.
“I would like to put on record my sincere thanks for the hard work and professionalism shown by Argenta’s underwriting division staff within LICCL during the past six years against a backdrop of challenging market conditions.”