London, 19 November 2019: Dale Underwriting Partners are pleased to confirm that the business plans for Syndicate 1729 and our SPA 6131 were approved on schedule by Lloyd’s in early October with growth in all lines of business.
Furthermore, we are very pleased with the capital support for our plans. Our Stamp capacity pre-emption to £147m has been fully supported with notable growth from some of our existing investors and we are delighted to welcome three of the most respected global insurance/reinsurance groups as significant new investors to us, all of whom are top quality, experienced investors in the Lloyd’s market.
We are grateful for the support from all involved and look forward to rewarding that commitment in an improving market.
This has enabled us to reposition the capital commitment from ProAssurance Corp to a level that fits with their shorter term strategic ambitions.
“ProAssurance is pleased to continue to be a significant capital provider to Syndicates 1729 and 6131 and we look forward to continuing to work with Dale Underwriting Partners.”