ACAPPELLA SYNDICATE TO CLOSE

Acappella syndicate 2014 has become the latest Lloyd’s syndicate to be closed ahead of the 2020 year of account. The syndicate, which was acquired by Hamilton Insurance Group as part of its acquisition of Pembroke Managing Agency, has been placed into run-off. Hamilton Insurance Group said the syndicate, which writes a mix of insurance and reinsurance products, was “unlikely to produce an adequate return on capital”. Acappella's closure comes as other Lloyd's syndicates are being shut down. In recent weeks it has emerged Pioneer syndicate 1980 and Vibe syndicate 5678 will be placed into run-off.