Barbican to manage Arcus Syndicate 1856
23 November 2015
London, 23 November 2015 – Barbican Insurance Group has announced that Barbican Managing Agency Limited has received approval from the Lloyd’s Franchise Board to manage Arcus Syndicate 1856 (Arcus 1856). The syndicate, which has a first year stamp capacity of £90m, will begin underwriting business attaching on or after 1 January 2016.
Arcus 1856 is fully capitalised with funds managed by Credit Suisse ILS and led by the firm’s former London-based ILS team, Rajiv Punja, executive director, Nicky Payne, active underwriter and Adrian Gfeller, chief risk officer.
The syndicate writes a diversified and balanced portfolio of business on an international basis, focusing primarily on providing reinsurance solutions. Key lines of business are property reinsurance and specialty, including marine, energy, cyber and space and aviation.
David Reeves, Group CEO of Barbican, commented: “We are delighted to continue our relationship with the Credit Suisse ILS team with the launch of Arcus Syndicate 1856. This is a perfect example of how the capital markets and the insurance industry can work together effectively for the benefit of both sectors, and we look forward to playing a proactive role in the ongoing success of the new syndicate through our managing agency.”
Barbican, Arcus Syndicate 1856, ILS, Lloyd’s, Reeves, Punja, Payne, Gfeller
Notes to Editors
Barbican Insurance Group www.barbicaninsurance.com
Formed in 2007, Barbican Insurance Group underwrites business predominantly through its syndicates at Lloyd’s. It also has a non-Lloyd’s financial solutions business based in Guernsey which offers insurance and reinsurance programmes to the global market and number of intermediary companies including, Barbican Underwriting Limited, Castel Underwriting Agencies Limited, Professional Indemnity Protect Limited and Seacurus Limited.
Barbican’s syndicates at Lloyd’s have a stamp capacity of £260m for the 2015 year of account and underwrite marine, aviation and transport re/insurance, property re/insurance, media and contingency, energy and specialty