Business Services Industry
Syndicate to cover U.S. catastrophes; Lloyd's unit 4242 to cater to midsize and small companies.(Chaucer Holdings PLC and ICAT Holdings L.L.C. established a syndicate)(Brief article)
Business Insurance, December, 2006 by Veysey, Sarah
Byline: SARAH VEYSEY LONDON- Chaucer Holdings P.L.C. and ICAT Holdings L.L.C. have established a syndicate at Lloyd's of London to underwrite U.S. catastrophe business for medium and small companies. Syndicate 4242 will have underwriting capacity of $148 million for 2007. Starting Jan.
1, the syndicate will underwrite insurance in catastrophe-exposed areas of the United States. ICAT Managers, a Boulder, Colo.-based managing agency, will write most of the syndicate's business through Lloyd's-approved coverholder arrangements, the two companies said in a statement. The syndicate will be managed by Chaucer Syndicates Ltd., Chaucer's managing agency. Chaucer manages multiline syndicate 1084 and nuclear syndicate 1176 at Lloyd's. "Chaucer was attracted...
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