Ark Syndicate Management Limited which manages the underwriting of Lloyd’s Syndicate 4020 is pleased to announce the expansion of its product distribution with the opening of a wholly owned syndicate service company office in the United States. Ark Underwriting Inc (AUI) has been approved by Lloyd’s as a coverholder and will initially underwrite facultative reinsurance business on behalf of Syndicate 4020 from Hartford CT, with plans to further expand into other business lines in the future.
Stanley J. Kott, a veteran (re)insurance executive who will serve as President and Director of AUI, said ‘Ark has established itself as a top tier Lloyd’s syndicate with a highly successful record of achievement since its start 7 years ago and we are pleased to be leading Ark’s landing in the United States and contributing to their growth and success’.
Ian Beaton, Chief Executive of Ark Syndicate Management Limited, states: `We have long considered this next deliberate step in our business development and are very pleased to have gathered our core group of highly regarded professionals to lead this effort. We will open our doors by December 1st with our first underwriters in place and ready to underwrite’.