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Flagstone Re to form new Lloyd's property division

Posted on: Thu, 24 Sep 2009 08:43:00 EDT

Symbols: FSR

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Sep 24, 2009 (Datamonitor via COMTEX) --
FSR | Quote | Chart | News | PowerRating -- Bermuda-based Flagstone Reinsurance Holdings has announced that a team led by Nick Jones has joined its Lloyd's underwriting operation, Marlborough Underwriting Agency to create a worldwide property division.

Initially writing on behalf of Marlborough's existing Syndicate 1861, the division will be supported for the 2010 year by a new mixed-capital Syndicate 1969 which will provide the majority of the capacity and utilize managing agency services and systems provided by Marlborough and Flagstone.

Flagstone said that the establishment of Syndicate 1969 has been approved in principle by Lloyd's franchise board but is subject to final approval by Lloyd's.

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