Syndicate Holding Corp (“SHC”), the holding company of VIBE Syndicate Management (“VIBE”), today announced that it has substantially reduced its D&F open-market Property underwriting for the 2019 year of account.
Ed Pomeroy, Head of Property D&F, has left the company effective November 16th 2018.
VIBE will continue to underwrite its Delegated Property portfolio under the management of Mark Herget.
Commenting on the announcement Joe England, Group CEO of SHC & VIBE, said “having undertaken a strategic review of the VIBE business we have ceased to underwrite new or renewal open market Property D&F business for the time being, and until such time as the market returns to sustainability. We will concentrate on those business classes that deliver the most opportunity for our capital and will continue to support our Delegated Property portfolio where our partnerships continue to deliver sustainable returns. VIBE remains a young business that will continue to grow in the right areas as we develop our vision to build a leading Insurance and Reinsurance business in the London market.”