NU Online News Service, June 10, 4:05 p.m. EDT
|Chubb Insurance Company of Europe SE said it has receivedapproval from the Lloyd's Franchise Board to establish a newsyndicate, which will be named Chubb 1882.
|The syndicate will commence underwriting on June 14 for businessincepting from July 1.
|Chubb 1882 will be managed by a newly created Lloyd's managingagency, Chubb Managing Agent Limited (CMAL), which is authorized bythe Financial Services Authority in the UK, the carrier said.
|The name Chubb 1882 is taken from the year Chubb wasfounded.
|The syndicate will write a variety of business, includingtraditional marine and professional indemnity and specialistclasses such as technology, Chubb said.
|Rob Cage, previously Chubb's United Kingdom head of commercialbusiness, will be the active underwriter of Chubb 1882, withprincipal authority to write business. Chubb 1882's capacity forthe remainder of 2010 is ?41.5 million ($60.8 million at thecurrent exchange rate).
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