Dale Underwriting Partners closes first year at a profit
Dale Underwriting Partners Syndicate 1729 at Lloyd’s has achieved a modest underwriting profit in its first year of account.
The Asta-managed syndicate was a new entrant into the Lloyd’s market for the 2014 year of account and has reported a profit of 0.6% on its initial stamp capacity of £75m.
The syndicate, led by Duncan Dale, wrote £45m of GNWP in 2014, but importantly 43% of that was new business to Lloyd’s. Its capital is supplied by a mixture of corporate and private investors, with ProAssurance Corporation notable as the lead capital provider.
Dale said: “We are very proud of this result considering the market conditions, our low volume of premium and the usual expense strain of a new business. We have received fantastic support throughout from our capital providers, Lloyd’s, Asta, brokers, and our clients.”
Asta CEO, Julian Tighe, added: “This is a good result for a young business in a challenging market and exemplifies how prudent management and sensible underwriting can achieve a positive outcome. We are proud to have played our part in Dale Underwriting’s success and we look forward to continuing that role.”
Press enquiries:
Damian Beeley/ Sam Whiteley
+44 (0)207 562 4444
Damian.Beeley@haggie.co.uk
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Note to Editors:
About Dale Underwriting Partners
Dale Underwriting Partners is an independent, owner-managed, Lloyd’s Syndicate with Market leading underwriting, claims and operational expertise. Led by Duncan Dale and a team of highly experienced Lloyd’s underwriters, Syndicate 1729 focuses on; Property Reinsurance, Property Insurance and Casualty and has a stamp capacity of £100m.
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 responsible for nine syndicates with capacity under management in 2016 of approximately UK£1bn:
Syndicate 1686 (Axis)
Syndicate 1729 (Dale Underwriting Partners)
Syndicate 1897 (Skuld), SPA 6126
Syndicate 2357 (Nephila)
Syndicate 2525 (DL Dale & Others)
Syndicate 2689 (Verto)
Syndicate 2786 (Everest)
Syndicate 4242 (ICAT), SPA 6123 (ICAT)
Syndicate 5886 (Blenheim)
MGAs
Asta Underwriting Management Limited (AUML) launched in 2015, making the skills, experience and capabilities behind Asta’s success as the leading third party managing agency at Lloyd’s available, for the first time, to the MGA market.
MGAs under management:
– Pelican Underwriting Management
– OverArk Limited
– Arma Underwriting Limited