MCI secures in-principal approval for Syndicate 1902

Specialist managing general agent Medical and Commercial International has received in-principal approval from Lloyd’s for Syndicate 1902 to underwrite business incepting from 1st January 2022. It aims to generate £45m of gross written premium in its first year focusing on core medical and commercial liability classes.

Phil Trafford established MCI in 2014 and leads the group as CEO. He will be the active underwriter for Syndicate 1902. Syndicate 1902 will be established under the syndicate-in-a-box model and managed by third-party managing agent Asta.

He said: “The vision for Syndicate 1902 is to create a global leader in science and research-led risk transfer with superior returns in evolving risk classes. The flexible and cost-effective SIAB platform made it possible for MCI not only to establish a credible risk bearing vehicle, but also to enhance our current product offerings. We are excited to work with Asta in this new initiative and are grateful for their guidance and continual support in helping us reach this milestone.”

Julian Tighe, chief executive officer of Asta, said: “We are proud to unveil our latest SIAB which further reinforces our ability to provide a flexible and swift route to market for aspiring new entrants to Lloyd’s.

“MCI Syndicate 1902 embodies innovation in terms of its product, distribution, and approach to technology and we are delighted to work with the MCI team and look forward to seeing the positive impact its business will have in Lloyd’s.”

    Share Story:

Recent Stories