Pioneer Underwriters are pleased to announce the launch of its Incidental Sub Syndicate
14 January, 2014
Pioneer Underwriters are pleased to announce the launch of its Incidental Sub Syndicate 1980 in conjunction with Liberty Syndicate 4472.
1980 began writing business effective the 1 January 2014, and will have a capacity of £70m in the first year of business.
Pioneer, formed as an MGA in April 2011, has made significant progress since its launch and currently manages over £100,000,000 of premium. This latest step is the conclusion of the next stage of a strategy that it has had in place since its formation. Incidental Sub-Syndicate 1980 will operate through a dedicated Incidental Syndicate Number within Liberty Syndicate 4472. 1980 will only write Pioneer business and will support its MGAs alongside its existing panel of insurance carriers and will be backed by Liberty, Pioneer and 3rd party capital maintaining both platforms within the group.
Pioneer Underwriters Chief Executive Officer Darren Doherty said: ”I am delighted that we have realised a key goal in the Pioneer growth story of launching Pioneer at Lloyd’s. This additional capacity and direct access to a Lloyd’s syndicate will widen our offering to our brokers and clients.”
Pioneer also announced today that Andrew Stout has been appointed Director of Underwriting of Pioneer Underwriters in addition to his position as the head of Pioneer Preferred Partners.
Pioneer Underwriters is located at Lloyd’s, 4th Floor, room 16, and at One America Square, London, EC3N 2LS.
About Pioneer: Back
Pioneer launched in April 2011 as a London based MGA/MGU, with full delegated underwriting authority in over 120 Lloyd’s class codes using a pre analysed broker portfolio as its foundation. Originally operated with the backing of Liberty Syndicate, Pioneer has expanded significantly and now manages in excess of £100m of premium over ten underwriting teams across Property, Marine and Casualty classes. Its inwards book includes Open market (1/3), Reinsurance (1/3) and Binding authority business (1/3). Pioneer operates 6 Lloyd’s consortia, 6 MGU and 5 traditional distribution MGA contracts. Pioneer has delegated authority arrangements with over 25 markets, Toba’s with 50 London brokers and over 10,000 US agents.