Panama insurer gets preliminary OK to operate Lloyd's syndicate
Panama Business. Risk Management Lloyd's of London Latin America United Kingdom Risk Management Panama-based insurer and reinsurer Istmo Compañia de Reaseguros Inc. and Capita Managing Agency Ltd. have received approval, in principle, to set up a syndicate at Lloyd's of London.
Ash Bathia, previously chief underwriting officer for the European operations of QBE Insurance Group Ltd., and active underwriters of QBE's liability syndicate 386 will be active underwriter of the syndicate, Istmo Re and Capita said Wednesday in a statement.
Jon Foley, most recently director of insurance at Sciemus Ltd. and formerly executive underwriter at Ascot Underwriting Ltd., and Nick Bacon, most recently director of international markets at Nelson Brown & Co. and formerly a managing director at Marsh Ltd. in London, also are members of the syndicate's founding team.