Syndicate Re, RITC Syndicate Management’s parent, has restructured its management team in London.
Former CEO Nigel Rogers has left his position at RITC Syndicate Management in London and relocated to Monte Carlo, to establish a presence and facilitate expansion into European run-off.
RITCSM has been an active acquirer of open year liabilities on Lime Street, responsible for a significant proportion of the $1.3bn of business which the group has underwritten in the Lloyd’s and the UK company market.
With just seven open years remaining at Lloyd’s, Syndicate Re has targeted growth in the company market outside of Lloyd’s. The first step of this was the acquisition of HSBC’s legacy motor insurer, HSBC Insurance (UK) Limited, last year.
This has now been rebranded as Inceptum Insurance Company Limited and will act as the company’s vehicle for future legacy acquisitions in the UK and London market.
Dinah Gately, former chief claims officer at RITCSM, has succeeded Nigel Rogers as CEO of the London operation.