During the last year, a large number of syndicates at Lloyd's of London have, according to information ShippingWatch has obtained, closed it marine insurance departments or significantly down-scaled on the area. Some of the syndicates are Amtrust, Channel Syndicate, Barbican and Advent.
The withdrawal from the marine market happens after Lloyd's of London presented a GBP 2 billion deficit last year, GBP 468 million of which came from the marine syndicates. This prompted the British insurance exchange to set rigorous demands for the syndicates on the exchange.
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