Asta receives 'in principle' approval for Skuld SPS 6126

Press release

Published: 28 October 2015

Asta Managing Agency Ltd (Asta) has confirmed they have been granted 'in principle' approval from Lloyd's to establish and manage Special Purpose Syndicate (SPS) 6126. Leading 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.

Julian Tighe, Asta CEO, said: "I am pleased that Asta could help to bring Mike Pritchard back into the Room at Lloyd's. We are always excited to work with talented entrepreneurs and particularly so when they have the experience and successful track record that Mike does."

Ståle Hansen, Skuld President and CEO, said: "SPS 6126 will enable our Skuld 1897 syndicate to expand from its traditional marine business and bring greater diversity to the balance sheet. Aligned to Lloyd's 'Vision 2025', it will bring in additional expertise and partner carriers from high-growth economies."



Asta press enquiries:

Matt Beasley, FWD Tel: +44 (0)20 7623 2368
Mob: +44 (0)7623 241 153

Matthew Longbottom, FWD Tel: +44 (0)20 7623 2368
Mob: +44 (0) 7798 758 938

Skuld press enquiries:

Damian Beeley, Haggie Partners Tel: +44 (0)20 7562 4444
Mob: +44 (0)7950 481795


Notes to editors:

About Asta
Asta Capital Limited is the parent company of:

  • Asta Insurance Markets Ltd
  • Asta Managing Agency Ltd
  • Asta Insurance Services Ltd
  • Asta Management Services Ltd
  • Asta Underwriting Management Ltd

Asta Managing Agency Ltd is the leading third party managing agent at Lloyd's and is currently responsible for seven syndicates with capacity under management in 2015 of approximately US$1bn:

Syndicate 1686 (Axis)
Syndicate 1729 (Dale Underwriting Partners)
Syndicate 1897 (Skuld)
Syndicate 1910 (Ariel), SPS 6117 (Ariel)
Syndicate 2357 (Nephila)
Syndicate 2525 (DL Dale & Others)
Syndicate 4242 (ICAT), SPS 6123 (ICAT)

Pending Lloyd's formal approval:
Syndicate 2786 (Everest) from 1/1/2016
SPS 6126 (Skuld) from 1/1/2016