Laurence Winter, previously at the AmTrust marine Lloyd’s team, is set to join Acappella syndicate 2014 to lead its marine liability business, claims re-Insurance.com in an as-yet unconfirmed report.
Acappella syndicate 2014, owned by Pembroke Managing Agency, recently decided to close its cargo book. Winter was understood to have decided to leave AmTrust Syndicate 1861 before that syndicate decided to pull out of hull, cargo and marine liability, amid losses in the sector and pressure from Lloyd’s to several syndicates and the sector as a whole to move into the black.
Acappella’s marine sector booked £22.9mn in gross written premium in 2017 out of GWP of £185.6m. The syndicate booked a loss of £21.11m for 2017, with a combined ratio of 117.1%.
Suzy Black recently left the marine liability team at Acappella for Standard Club Syndicate 1884, which she will join as a class underwriter in Q3 2018.