Sportscover granted Lloyd’s managing agency
Melbourne-based sports underwriting agency Sportscover has set up a managing agency in the Lloyd’s market, following approval by the UK regulator.
The Financial Services Authority granted Sportscover approval effective from December 24. Lloyd’s has also approved the application, taking its number of managing agencies to 52 in addition to 80 underwriting syndicates. Every Lloyd’s syndicate is subject to managing agency control.
Sportscover Director Marketing & International Development Steve Boucher told insuranceNEWS.com.au the move gives the agency greater control over its destiny.
“It’s a major step and gives us that control over where we do business,” he said. “Having a managing agency and syndicate going forward, we can look to manage other syndicates or diversify into other areas and set up other syndicates.”
Sportscover is an international specialist in sports and leisure insurance. It has written business in Lloyd’s since 2006 through its 3334 SCS syndicate, overseen by the managing agency Argenta Syndicate Management.
The Financial Services Authority granted Sportscover approval effective from December 24. Lloyd’s has also approved the application, taking its number of managing agencies to 52 in addition to 80 underwriting syndicates. Every Lloyd’s syndicate is subject to managing agency control.
Sportscover Director Marketing & International Development Steve Boucher told insuranceNEWS.com.au the move gives the agency greater control over its destiny.
“It’s a major step and gives us that control over where we do business,” he said. “Having a managing agency and syndicate going forward, we can look to manage other syndicates or diversify into other areas and set up other syndicates.”
Sportscover is an international specialist in sports and leisure insurance. It has written business in Lloyd’s since 2006 through its 3334 SCS syndicate, overseen by the managing agency Argenta Syndicate Management.