Earlier today, we told you about Ariel Re receiving approval to establish a Lloyd’s managing agent – and now another firm has received a significant thumbs up.
Probitas 1492 has announced that Probitas Managing Agency (PMA) has picked up all the necessary approvals to start assuming responsibility as managing agent of Syndicate 1492. It will take over from Capita Managing Agency Limited, beginning on September 01.
The green light was welcomed by PMA CEO of Ash Bathia who described it as a “significant milestone in our journey”.
“I would like to take this opportunity to thank Saudi Re, our core equity partner, for their invaluable continued support, Capita Managing Agency for their guidance over the last six years, and, of course, the whole Probitas team, without whom none of this would have been possible,” he said.
Meanwhile, chairman Steven Burns was similarly enthused, describing the firm as having a “unique and inspiring culture”.
“Ash and the Probitas 1492 team have created a growing and high performing business based upon underwriting specialism and excellence, supported by a strong operational model,” he said.
Probitas 1492 underwrites risks across the UK, Europe, the Middle East and Africa, Asia, Latin America and Canada, with a focus on high growth markets.
