Asta approval

Asta Managing Agency Ltd (Asta) has confirmed it has been granted “in principle” approval from Lloyd’s to establish and manage Special Purpose Syndicate (SPS) 6126. Marine insurance provider Skuld will cede business into the SPS, providing reinsurance for Skuld’s syndicate 1897. The SPS has planned gross premium of £46m for 2016 and will be led by Mike Pritchard. Asta and Skuld are working towards securing formal approval to commence underwriting business from 1 January 2016. The SPS will write a book of direct and facultative non-marine business as well as high growth economy business, much of it new to the Lloyd’s market.