Argenta opens Asian syndicate

Argenta Holdings is to underwrite marine insurance and reinsurance after opening a syndicate in Singapore.

Argenta, which has taken over the syndicate from Asian Marine Syndicate 1965 (AMS), has named it Argenta Underwriting Asia (AUA).

The new business is an expansion of Argenta’s London-based operation, Lloyd’s Syndicate 2121.

Andrew Annandale, Argenta’s chief executive, said a local underwriting presence for Argenta in Singapore was a major step forward for Syndicate 2121 and for the group.

“We recognise the importance of having a local hub in Asia as we seek to diversify and expand the syndicate’s underwriting base, both geographically and in terms of business classes written,” he said.

The new syndicate will be licensed under Lloyd’s Asia, the market’s operation in the Far East.

Paul Hunt will become the syndicate’s underwriter. He replaces Richard Yeo, who has resigned. All other AMS staff will be transferred to AUA in their current roles.