Argenta forms Singapore service company

Argenta Holdings Plc has established a Singapore-based service company, Argenta Underwriting Asia Pte Ltd (AUA), which will act as a regional coverholder for Syndicate 2121. The new service company has also assumed responsibility for underwriting business on behalf of Singapore-based Lloyd’s Syndicate 1965, via a binding authority agreement. Syndicate 1965’s underwriting was previously undertaken by local service company, Asian Marine Syndicate 1965 Pte Ltd (AMS), a wholly-owned subsidiary of the syndicate’s ultimate capital provider, ACAL Holdings Pte Ltd. Argenta’s chief executive officer Andrew Annandale, said: “We recognise the importance of having a local hub in Asia as we seek in the future to diversify and expand the syndicate’s underwriting base both geographically and in terms of business classes written”. Paul Hunt, director of underwriting at Argenta Syndicate Management Ltd and active underwriter of Syndicate 2121, will also become the active underwriter for Syndicate 1965 in the short term, replacing Richard Yeo who has resigned.