Artemis ILS NYC 2019


Reinsurance News

Dale gets approval for Lloyd’s reinsurance sidecar SPA

13th November 2017 - Author: Steve Evans

Dale Underwriting Partners has received approval from Lloyd’s for its new special purpose arrangement (SPA), a vehicle that will act as a kind of reinsurance sidecar for Dale’s Syndicate 1729.

Dale Underwriting Partners logoThe SPA will reinsure a portfolio of contingency and specialty property business that has been underwritten into Dale syndicate 1729 by a new team led by Tom Phillipson.

Syndicate 1729 will cede a proportion of incremental business underwritten into the SPA, so the SPA acts as an additional pool of reinsurance capacity that it can leverage to back its expansion.

Dale said that it plans to grow its gross premiums by US$22m, a figure that will be split 40% / 60% between S1729 and the SPA for 2018.

Duncan Dale, chief executive of Dale Underwriting Partners, commented, “I am very pleased to confirm that our SPA will be part of our underwriting framework from 2018. The SPA structure is the ideal platform for this innovative and entrepreneurial team, and has great potential to increase underwriting profit and fee revenue for Syndicate 1729.

“Tom is a recognised industry figure who brings an exceptional track record and breadth of hugely relevant experience in this specialist area. I am confident that he and his highly talented team will quickly establish themselves as a significant participant in this market.”

Julian Tighe, CEO of Asta the Lloyd’s third party managing agency who manage the SPA, added, “I am pleased that Asta could support Dale in its expansion plans and we look forward to continuing to support the team as they move forward. We are always excited to be part of the development of successful businesses, whether that is a syndicate, MGA or SPA. There are clear opportunities in this market for those with expertise, experience, ambition and entrepreneurial acumen and Dale is a clear example of this.”

Recent Reinsurance News

Recent Reinsurance News

Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.

  • Only email is mandatory, but the more you tell us about yourself the better we can serve you in future!
  • This field is for validation purposes and should be left unchanged.

By submitting the form you are giving your consent to be emailed by us.