Informa Insurance News 24
LLOYD’S AGENCIES COMBINE TO MANAGE NEW ORTEC SYNDICATE
Three
Lloyd’s managing agencies —
Hiscox-backed Heritage Group, Gerling at
Lloyd’s and
Global Aerospace Underwriting Managers — have together formed a new aviation syndicate called Ortac Aviation. The syndicate commenced underwriting
on March 1 and is backed equally by Gerling and by companies within the
Global Aerospace group. The syndicate will be run by a new composite managing agency, Ortac, which has been created as part of the three-way
alliance. Martin Belcher has been named Ortac’s chairman and Malcolm Nevitt its chief underwriter. Mr Belcher described the
new syndicate as “a great opportunity to marry the long-standing general aviation underwriting expertise of Heritage, Gerling
and
Global Aerospace into one major force”.