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Who owns Atrium Underwriting?

Atrium Underwriting Group Limited

What is a Lloyd’s syndicate?

A Lloyd’s syndicate is formed by one or more members joining together to provide capital and accept insurance risks. Each syndicate sets its own appetite for risk, develops a business plan, arranges its reinsurance protection and manages its exposures and claims.

What is Lloyd’s syndicate capacity?

Lloyd’s will operate with a total market stamp capacity in the region of £36.5bn ($48bn) in 2021… up circa 9 percent year on year, with more than 50 syndicates having gained business plan approval to increase capacity at 1 January.

Do Lloyd’s Names Still Exist?

Most individuals have limited liability but old-school Lloyd’s investors — known as Names, who are on the hook for unlimited losses if disaster strikes — still exist. There were 32,000 of them in 1988 but today there are just 295, writing about 1% of capital at Lloyd’s. “Private capital is an integral part of Lloyd’s.

What is Atrium Building?

In architecture, an atrium (plural: atria or atriums) is a large open-air or skylight-covered space surrounded by a building. Atria are a popular design feature because they give their buildings a “feeling of space and light.” The atrium has become a key feature of many buildings in recent years.

What is the plural of atrium?

atri·​um | \ ˈā-trē-əm \ plural atria\ ˈā-​trē-​ə \ also atriums.

How many Lloyd’s Coverholders are there?

1 Background to Lloyd’s Our unique insurance market has an unrivalled concentration of specialist underwriting expertise and every day, more than 50 leading insurance companies, over 200 registered Lloyd’s brokers and a global network of over 4,000 local coverholders operate in and bring business to the Lloyd’s market.

Who are the light touch syndicates?

The light-touch syndicates include Munich Re, Hiscox, Aegis London and MAP. The largest de-emption of the year was recorded by MS Amlin, which reduced its stamp by £250mn – or 13.5 percent – year on year to £1.6bn.

What is a syndicate business forecast?

The syndicate business forecast (SBF) provides information that is needed to enable Lloyd’s to support the business plan approval and capital processes. The SBF Return collects data that is common to each syndicate.

What happened to Lloyds names?

Lloyd’s was later forced to make a settlement with the roughly 3,000 Names on the various PCW syndicates involved and to reinsure their liabilities into a new syndicate, number 9001, in turn reinsured by a unique vehicle named Lioncover, which was set up as a Lloyd’s subsidiary insurance company.

Who is atrium insurance and reinsurance Syndicate 609?

Atrium is a long established leading specialist insurance and reinsurance business, underwriting through Syndicate 609 at Lloyds. Atrium operates within the Lloyd ’ s market and has a history dating back to the 1930’s.

Who are the owners of Lloyds Syndicate 609?

As is traditional with Lloyd’s, Syndicate 609’s capital is provided by a combination of individual third parties (Names) who provide approximately 75% of the capital with the remaining 25% being provided by Atrium’s ultimate owners Enstar Group Limited and Stone Point Capital LLC.

Why is atrium the best underwriter for Lloyds?

Atrium provides delegated underwriting authority to Lloyd’s coverholders through the effective use of Binding Authorities and our control, management and hands on approach makes us the preferred underwriter of many leading Lloyd ’s Brokers.

What kind of rating does atrium Bank have?

Prior to 2012 Atrium managed two Syndicates; 570 and 609, but in 2012 the two syndicates merged trading forward as Syndicate 609 – The Atrium Syndicate. Syndicate 609 benefits from Lloyd’s ratings and from the Lloyd’s Chain of Security: an A rating from A.M. Best, A+ from Standard & Poor’s and AA- from Fitch.