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Beazley eyes low volatility returns with launch of new syndicate

Lloyd's of London insurer Beazley Plc is planning to launch Syndicate 5623, a new special purpose arrangement syndicate comprising the firm's broker underwritten business and to be backed by a range of third-party investors, Artemis.bm reported.

The capacity is solely focused on allocation to broker facilities to ensure low volatility "market average" returns to investors, according to the report.

The new facility will have 75% quota share from the existing Syndicate 3623, which will retain 25% of the new vehicle's risk, even as the remainder is funded through quota share. The facility is likely to include insurance-linked securities, according to the report.