Charles Taylor Managing Agency obtains regulatory approval
12 March 2015
New Lloyd’s Managing Agent to offer turn-key managing agency services
Charles Taylor has received regulatory approval from the PRA, the FCA and Lloyd’s to launch a Managing Agent. In addition, Lloyd’s has approved Charles Taylor Managing Agency (CTMA) to manage syndicate 1884. CTMA’s strategy is to extend its syndicate management capability to further new Lloyd’s start-ups.
Christian Schirmer, Chief Executive Officer, CTMA, said: “New syndicates entering the Lloyd’s insurance market will generally appoint an approved turn-key managing agent, to provide them with all of the management oversight and services they require to operate in the Lloyd’s market. I am particularly pleased that syndicate 1884 has chosen CTMA as its managing agent.
“We intend that CTMA will provide turn-key syndicate management to additional new syndicates entering Lloyd’s in the future. This will supplement the few managing agents that currently focus on turn-key management and we believe there will be a significant demand for our services.
David Marock, Group Chief Executive Officer, Charles Taylor plc said: “The launch of CTMA marks another important step in delivering our growth strategy by building the breadth of professional management services we offer to insurance markets. We have deep experience of working in the Lloyd’s Market where we offer highly technical skills coupled with a commitment to excellence. We are confident that CTMA will offer exceptional management to new entrants to the Lloyd’s market.”