Quick update from Asta for you;
Davies-owned Asta, the leading third-party managing agency at Lloyd’s, is pleased to announce that Lloyd’s has approved the novation of GIC Re’s syndicate managing agency agreement to Asta with effect from 1 July 2025. The agreement relates to the open and prior years of GIC syndicate 1947. Asta will provide a full range of oversight and operational support services.
Launched in 2018, GIC syndicate 1947 writes property D&F, property treaty, marine & speciality treaty, and non-marine speciality/consortia, while seeking to bring the best of the Indian insurance market to Lloyd’s. GIC Re (via its Lloyd’s corporate member) provides 100% of the capital to support the business underwritten at syndicate 1947.
Ramaswamy Narayanan, GIC Re chairman and managing director, said: “We are pleased to commence this partnership with Asta as we consider they are best-placed to help deliver the group’s strategy through managing our fully-aligned Lloyd’s syndicate, GIC Re Syndicate 1947.”
Lorraine Harfitt, CEO of Asta, added: “We are delighted to partner with GIC as it enters the next phase of its growth and evolution. Asta’s independent third-party platform allows us to focus exclusively on delivering for our clients, helping them achieve their strategic ambitions. Working with syndicate 1947 on this transition underscores our commitment to the Lloyd’s market and to our client partnership model. We look forward to working with the GIC team for the rest of 2025 and beyond.”
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