Asta, the third-party management agent at Lloyd’s, has announced that the Council of Lloyd’s has granted final approval for Medical Protection Society to transition from its current status as special purpose arrangement 1892 to a market-facing syndicate.

Julian Tighe, chief executive officer of Asta, said: “We are pleased that Asta has helped facilitate this next step in MPS’ development as a business. We aim to support our clients in whatever phase they are in and are looking forward to managing MPS’ progression to a full syndicate with a profitable and sustainable future.”

Simon Kayll, MPS chief executive, added: “We are thankful to Asta for their commitment and contribution in helping us establish at a leading global market like Lloyd’s.

“MPS has been supporting the healthcare industry for more than 125 years. For the past two years MPS Partnerships has been offering the tailored corporate insurance product of Healthcare Protection, complementing its risk prevention and professional indemnity solutions.

“The final approval for the transition to a full syndicate with Asta demonstrates MPS’s commitment to offering an innovative insurance solution to corporate healthcare providers.”

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