White Mountains Re, the reinsurance unit of White Mountains Insurance Group, has said that its affiliate Sirius International Insurance has received approval in principal from the Lloyd's to establish new Syndicate 1945.
The new Lloyd’s Syndicate will be managed by Whittington Capital Management, a Lloyd’s registered managing agency which is authorized and regulated by the Financial Services Authority in the UK.
Sirius and Whittington are working with Lloyd’s to secure final approval to commence underwriting business incepting on or after 1 July 2011.
The Syndicate’s underwriting plan will comprise insurance and reinsurance in the accident and health and contingency lines transferred from the London branch office.
The active underwriter of Syndicate 1945 with principal authority to write business will be Mike Dashfield, who has run Sirius’ London branch office.