VIBE Syndicate Management (“VIBE”), today announced that the 2019 Syndicate Business Plan and capital requirements for VIBE Syndicate 5678 has received written approval from Lloyd’s.
Commenting on the announcement Joe England, Group CEO of SHC & VIBE, said “VIBE is aligned with Lloyd’s actions to remediate the performance gap in the market. Our immediate plan for 2019 expects to broadly maintain the level of premium written by Syndicate 5678 at the same level as 2018. We have already taken measures to reduce underperforming business and will concentrate on those business classes delivering the most opportunity for our capital. VIBE remains a young business that will continue to grow in the right areas as we invest to develop our vision for the future of the company and build a leading Insurance and Reinsurance business in the London market.”