ProAssurance Corporation has expanded its commitment to Lloyd’s of London insurance and reinsurance underwriting group Dale Underwriting Partners, adding $200 million to its capital commitment to Syndicate 1729, through to the 2022 year of account.
Duncan Dale chief executive, Dale Underwriting Partners, commented on the capital injection; “ProAssurance has been keen from the outset to demonstrate a long-term commitment to the syndicate and this commitment of capital does this in the most tangible way. This is a fantastic endorsement of what the team has achieved so far and of ProAssurance’s positive view of our future prospects.”
ProAssurance chairman and CEO, Stancil Starnes, added; “Our decision to extend our capital commitment to Syndicate 1729 underscores our confidence in Duncan Dale and the team at Dale Underwriting Partners. The syndicate has proven its ability to grow prudently in a challenging market, building their book while demonstrating the underwriting and pricing discipline that is required to ensure long-term success.”
The capital infusion reflects ProAssurance’s appetite for insurance and reinsurance risks, as well as its confidence in Dale’s underwriting abilities.
