Reinsurance News

Victor sets up Lloyd’s Syndicate 2288, names Active Underwriter

10th December 2019 - Author: Matt Sheehan

Managing general underwriter (MGU) Victor Insurance Holdings has received approval from Lloyd’s to establish Victor Syndicate 2288 and commence underwriting from January 1, 2020.

VictorVictor Syndicate 2288 will launch at Lloyd’s with a stamp capacity of £57 million, supporting a business plan of US $100 million.

Jill Frances has been named as Active Underwriter for the syndicate, and will also assume the role of Chief Underwriting and Operations Officer for Victor International.

Victor further announced that Asta will be the managing agent for Syndicate 2288, providing oversight and operational support.

“We have extensive history with Lloyd’s as a coverholder and are delighted to broaden our strategic relationship with such a vital market,” said Anthony Stevens, President, Victor International. “Lloyd’s digital-forward approach aligns well with Victor’s digital innovation and our international expansion plans.”

Victor Syndicate 2288 is expected to support Victor’s underwriting of property and casualty (P&C) business in the US, UK, Italy, and the Netherlands.

It will also provide opportunities for capital partners to participate in risks underwritten by its underwriting hubs in Boulder, Colorado, US; London, UK; Rotterdam, Netherlands; and Milan, Italy.

In the US, the syndicate will provide ongoing support to serve the needs of small commercial properties in catastrophe-exposed areas.

“The Victor syndicate will enable us to respond to the needs of underserved clients in catastrophe-exposed areas of the US through our subsidiary, ICAT,” explained Brian Hanuschak, President, Victor North America.

“Under the Lloyd’s banner, we are well positioned to serve the needs of our policyholders and our network of independent agents and brokers,” he added.

Frances, who is set to become Active Underwriter for Syndicate 2288, was formerly Managing Director for Victor US and brings over 20 years of experience in speciality underwriting, having recently run the company’s professional liability division.

In her new role, Frances will report to Stevens from a base in London, where she relocated on December 1.

At the same time, Victor revealed that Kevin Collins will become executive leader of the Architects and Engineers division at Victor US, with Zach Vollmer continuing as leader of the Real Estate Program. Collins has 30 years of experience with Victor and the A&E program.

Julian Tighe, CEO of Asta, also commented on the launch of Syndicate 2288: “This is our second launch at Lloyd’s this year, and we look forward to working with Jill and her team as they re-position their business for future growth under the Lloyd’s franchise.”

Formerly known as the The Schinnerer Group, Victor has locations in the US, Canada, UK, Netherlands, Italy, Germany, and Australia.

It currently handles more than $1.6 billion in premium on behalf of various insurance carriers, through a network of more than 25,000 active insurance agents and brokers.

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