LLOYD'S SYNDICATE CLOSES AFTER SUFFERING THAI FLOOD LOSSES

Lloyd's syndicate 1965, managed by Argenta Syndicate Management Ltd, has ceased accepting new business after suffering a string of Asian catastrophe losses. The Singapore-based Lloyd's syndicate, which operates exclusively in Asia, has been affected by the unprecedented frequency and severity of natural catastrophes in the region during 2011, culminating in the recent Thailand floods. Argenta said that it will work closely with Lloyd's and the capital providers to ensure the orderly resolution of all outstanding liabilities. Argenta's own syndicate 2121, is not affected by events and has minimal exposure to the Thailand floods.