Statera Managing Agency Limited, a subsidiary of Octave Ventures, has received regulatory approval to act as a Lloyd’s Managing Agent.
Statera will now manage Syndicates 4242 and 1416, which currently underwrite specialty risks produced through their strategic relationship with Octave Ventures, a division of Octave Specialty Group, Inc.
The Syndicates benefit from Lloyd’s A+ financial strength rating, global licenses, and flexible access to capital from a diverse investor base, which includes reinsurers, high-net-worth individuals, and institutional investors.
Asta Managing Agency Limited was the Syndicates previous managing agent, with Octave Ventures guiding the strategy and delivering day-to-day operations under a management agreement.
The launch of Statera brings full Lloyd’s management capabilities in-house, eliminates critical third-party reliance, and further enhances the ability to connect risk and capital.
Scott Fordham, Chief Executive Officer of Statera, said: “This is a significant milestone. While we have long been actively managing the Syndicates, becoming a Lloyd’s Managing Agent enhances our capabilities and further enables us to add value to the Lloyd’s market.
“We expect a seamless transition of Syndicate management with minimal operational change, as Octave Ventures already provides much of the infrastructure supporting the Syndicates.”
