Lloyd’s has approved a new syndicate backed by the independently owned holding company CV Starr & Co, which once housed a group of insurance agencies for American International Group (AIG) and is named after AIG’s founder.

CV Starr Chairman and CEO Maurice “Hank” Greenberg was formerly CEO of AIG before the Spitzer investigations into broker commissions expanded into finite reinsurance deals involving the company.

The new underwriter, Syndicate 1919, will be managed by Marlborough Underwriting Agency, a subsidiary of Berkshire Hathaway.

The syndicate will write aviation, energy and marine business. It will be wholly capitalised by CV Starr (25%) and Starr International Investments (75%) and aims to start underwriting on October 1 this year with a capacity of £50 million ($125 million).