Hampden has agreed with Asta and Lloyd’s to offer freehold capacity on Verto Syndicate 2689 for 2018, after reconsidering the terms of participation for the syndicate.
Verto’s business plan for 2018 has been approved as submitted with capacity of £115 million and an Economic Capital Assessment (ECA) of 92.4% which represents a reduction from the mid-year ECA of 136.5%
This enables the pre-emption to be taken up in full with a 42% average increase in ECA as part of a diversified portfolio.
Hampden commented; “We welcome the change to freehold capacity for 2018 which will make its syndicate capacity tradable in next year’s auctions.
“This is always our preferred option at Hampden in any event when we look at potential new syndicates. The reduction in ECA is also welcome for enabling take up of capacity offered by the pre-emption.”
