LONDON (Alliance News) - Insurance services company Charles Taylor PLC on Thursday said it has received regulatory approval for its managing agency to manage Lloyd's of London Syndicate 1884.
Charles Taylor said the strategy for the Charles Taylor Managing Agency business will be to extend its syndicate management capability to further Lloyd's start-ups. The company expects the managing agency to be modestly earnings-accretive in 2015.
"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," said Charles Taylor Chief Executive Officer David Marock.
Shares in Charles Taylor were up 0.5% to 281.25 pence on Thursday, having initially fallen to 275.00p.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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