Arch Insurance International (AIA) has launched Arch Managing Agency (AMA), which brings together the activities that it and the Barbican Managing Agency undertake at Lloyd's.
The new managing agent will oversee four syndicates, and will be headed up by Ben Canagaretna, who was the group chief actuary at Barbican Insurance Group.
He will report to Hugh Sturgess, the president and chief executive of AIA.
Sturgess said founding the single managing agency made it easier to support the Lloyd's operations "and promote an environment that is beneficial to our third-party capital partners".
The syndicates that will come under AMA's remit write across a broad range of lines, including SME retail, cyber and space.
Syndicate 2012 named its SME retail specialism as a key part of the business to build on coming into this year. The syndicate's £15m underwriting profit in 2019, on a net combined ratio of 90.6%, followed on from £4m of insuring profits and a 97.6% net COR in 2018, according to its latest annual financial statement.
On consciously not renewing unprofitable lines last year, its premiums fell by 3.5% to £224m, but where it continued taking underwriting risks it witnessed sharp improvements in rates, such as for directors and officers (35.2%), onshore energy (30.8%) and hull (19%).
It underwrote £1.6m of political risk – a new line for it in 2019 - and said it had only "limited exposure" to Australia's bushfires and hurricane Dorian.
The Arcus syndicate had exposure to typhoons Faxai and Hagbis and posted a loss-making combined ratio of 106% in 2019, but it more than doubled its premium volumes for cyber from £4.8m to £12.9m, year on year.
Syndicate 1955 underwrites marine, financial lines, health, property, and property, though it discontinued some property lines in 2019. The syndicate last year bounced back from a £10m loss in 2018, to post a £2.5m profit. Most of its premiums in 2019 (£122m) came from marine, aviation and transport.
Syndicate 6132 was established as a dedicated vehicle for external investors to participate on Barbican Syndicate 1955, via quota share reinsurance
