Syndicate 2791

Syndicate Underwriter:     Richard Trubshaw

2017 Account Capacity:   £400 million

 

Syndicate 2791 has maintained its capacity for the 2017 year of account at £400 million. The syndicate continues to enjoy the support of a broad range of third party capital providers, with no single source being responsible for more than 15% of stamp capacity. This is a result of a deliberate strategy to ensure that no single capital provider can force closure or restructuring by withdrawing support, and thus undermine the continuity and independence we promise our clients.

               

Syndicate 2791 Report and Financial Statements

        

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Breakdown of Capacity 

a)  Traditional capacity                                                                                       67%

     (limited and unlimited liability Names through Members' Agents)

b)   Corporate capacity                                                                                      33%

     (Corporate members participating on more than one syndicate)

  

MAP Capital Ltd, which provides a total of £68.7 million capacity to Syndicate 2791 and £1.46 million to Syndicate 6103, was initially formed as a vehicle through which members of staff could participate on the syndicate.  For the 2017 account, individuals in their capacity as shareholders, accounted for capacity of £20.48 million. Other shareholders include two investment trusts, with further support provided by quota share reinsurance with an A rated carrier.

   

The combined participation of the MAP directors, members of staff and their spouses on Syndicate 2791 is £32.1 million and £1.2 million on Syndicate 6103.

          

         

Managing Agency

Syndicate 2791 is managed by Managing Agency Partners Ltd, a wholly owned subsidiary of MAP Holdings Ltd. The majority shareholder (90%) in MAP Holdings Ltd is MAP Equity Ltd, a company wholly owned by the underwriting and management team.

   

Lloyd's rating (January 2014)

  • AM Best Financial Strength Rating                                   A (Excellent)
  • Standard & Poor Financial Strength Rating                      A+ (Strong)
  • Fitch Insurer Financial Strength Rating                            AA- (Strong)

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