Login Arrow right Chevron right LinkedIn Ellipsis Close Tick Grid Envelope Phone Info Print PDF Share Lock Search Check circle Download Video Podcast Logout

Aug 01, 2022

Beazley announces 22.8% increase in capacity for the 2023 year of account

Image for Beazley announces 22.8% increase in capacity for the 2023 year of account
Back

The managing agency of Syndicate 623 has written to capital providers stating its intention to increase Syndicate 623's stamp capacity for the 2023 year of account from £568.1m to £721.9m which represents a 22.8% increase in capacity.

This is subject to finalisation of the Syndicate Business Plan.

As the increase is above 7.5%, the Lloyd's Pre-Emption Byelaw requires that a formal notice of the intention must be made and 75% agreement from members who respond (weighted by capacity) must be obtained before making a pre-emption offer.