Statera Management Agency Limited, a subsidiary of Octave Ventures, has received regulatory approval to act as Lloyd’s managing agent.
Statera will now manage Syndicates 4242 and 1416, which currently underwrite specialty risks generated through a strategic relationship with Octave Ventures, a subsidiary of Octave Specialty Group, Inc.
The syndicate benefits from a Lloyd’s A+ financial strength rating, global licenses and flexible access to capital from a diverse investor base including reinsurers, high net worth individuals and institutional investors.
Asta Managing Agents Ltd is Syndicates’ former managing agent, with Octave Ventures responsible for directing strategy and conducting day-to-day operations under the management agreement.
The launch of Statera gives Lloyds full in-house management capabilities, eliminating heavy reliance on third parties and further enhancing its ability to connect risk and capital.
Statera CEO Scott Fordham said: “This is an important milestone. While we have long actively managed syndicates, becoming Lloyd’s managing agent enhances our capabilities and further enables us to add value to the Lloyd’s market.”
“We expect syndicate management to make a seamless transition with minimal operational changes, as Octave Ventures already provides much of the infrastructure supporting syndicates.”
