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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”.

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