RENRE ENTERS LLOYD’S MARKET

Bermudian insurer/reinsurer RenaissanceRe Holdings is to enter the Lloyd’s insurance market following approval to establish a new syndicate, RenaissanceRe Syndicate 1458. RenRe is partnering with Spectrum Syndicate Management for the new operation, with Spectrum’s Jamie Lewis serving as active underwriter. The syndicate, which will underwrite commercial property and specialty lines, is expected to be operational from May. It is the second new syndicate to be announced this week, following Lloyd’s approval for WR Berkley’s syndicate 1967 to begin underwriting property and accident classes of business from the beginning of June.