Antares places Lloyd’s China operation into run-off

Antares Managing Agency has placed Syndicate 1274’s Lloyd’s China operation into run-off and will not accept new or renewal business through the Lloyd’s China platform from 1st March 2021.

Going forward, Chinese business will be written out of Antares Singapore. All existing policies will continue to provide cover on existing terms and conditions until natural expiry.

Mark Graham, CEO of Antares, said: “Antares has a long-term commitment to the Asia Pacific region, and we continue to support our partners through our Singapore platform. We are in the final stages of our strategic review of operations, whose sole aim is to place our business on a secure and profitable footing for the future. This announcement today is a consequence of that review.”

Li Shan Yeo, CEO of Antares Asia, said: “Our clients in China will continue to have access to our market-leading specialist insurance and reinsurance solutions through Lloyd’s Asia. All existing policies written by Antares Underwriting Division of Lloyd’s China remain in force and a team to manage our run-off book is in place for all claims and enquiries.”

Antares is a subsidiary of QIC Global.

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