Asta Managing Agency Ltd. said it received approval inprinciple from the Lloyd's ofLondon franchise board to establish and manage Blenheim Syndicate5886.
Asta expects to commenceunderwriting policies incepting on or after Jan. 1, 2017. Nick Destro will bethe active underwriter, joining the initial senior management team of PeterScales and John Lynch. Geraldine McMillan and Michael O'Sullivan will join tounderwrite the treaty account from the start of 2017.
Blenheim has a planned stampcapacity of £150 million for 2017, underwriting U.S. and international treatybooks, direct insurance and some specialty lines. Its capital structure willcomprise a mixed capital base incorporating private names, trade andinsurance-linked securities capital sources.