It looks like AmTrust at Lloyd’s (ATL) is letting go of marine underwriting ASAP, if reports are to be believed.
“We can confirm after a strategic review that we are exiting the marine cargo, hull, and liability lines of business with immediate effect,” a company spokesperson told Reinsurance News.
It can be recalled that back in September ATL announced that it had applied for approval to combine its three fully aligned non-life Lloyd’s syndicates under management. The proposal involved syndicates 1206 (marine), 5820 (consumer products), and 1861 (marine and energy liability).
ATL’s plan was to consolidate the three syndicates into Syndicate 1861 for the 2018 year of account. We have not heard on that front since.
Meanwhile the spokesperson was quoted as saying: “We are excited about the potential for existing and new lines for the rest of 2018 and beyond.”