Probitas Syndicate 1492 to focus on emerging markets
Former QBE chief underwriting officer Ash Bathia has returned to the market with a new Lloyd’s syndicate focused on Latin America.
Probitas Syndicate 1492, has started underwriting. It will have a focus on business not currently written at Lloyd’s, particularly in Latin America and other emerging markets.
It will write a portfolio of property/casualty direct insurance and facultative reinsurance.
Bathia is Probitas’s chief executive and active underwriter of Syndicate 1492.
The executive team includes former Ascot executive Jon Foley as chief underwriting officer for property and former Marsh executive Nick Bacon as chief distribution and operations officer.
The new Lloyd’s insurer has also hired Antony Dodson as chief pricing officer. He joins from the Watkins Syndicate at Lloyd’s.
The syndicate is backed by investment from Panama-based reinsurer Istmo Re and is managed on a turnkey basis by Capita Managing Agency.
Bathia said: “We are delighted to be bringing something new and exciting to the Lloyd’s market with our syndicate’s initial focus on property and casualty business in emerging growth markets. We are also very pleased to have Istmo Re as our key investor and distribution partner in Latin America.”