Asta Takes Over Parsyl Syndicate From Ascot Underwriting
Asta Takes Over Parsyl Syndicate From Ascot Underwriting
As of August 1, Lloyd’s third-party managing agency Asta has taken over from Ascot Underwriting as the manager of the Parsyl syndicate-in-a-box (SIAB) 1796.
The only market-leading integrated risk management and insurance solution is provided by Parsyl, a Lloyd’s specialist in the insurance of perishable cargo.
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Parsyl was the driving force behind the Global Health Risk Facility at Lloyd’s, which was created to offer insurance and risk management for the international distribution of COVID-19 vaccinations and other medical supplies in response to the pandemic.
Since then, Syndicate 1796 has been enhanced by Parsyl to enable supply chain and logistics coverages for a larger perishables market.
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Asta Takes Over Parsyl Syndicate From Ascot Underwriting
It was also recently announced that Parsyl had opened an office in London earlier this year.
Furthermore, Asta now manages six Lloyd’s SIABs, as well as ten full syndicates, four MGAs, and one SPA.
Gavin Spencer, head of insurance at Parsyl, said: “We focus on data-driven underwriting of essential supply chains in food and health, and it is intended that Syndicate 1796 becomes the industry standard for perishable goods underwriting. Asta has the experience, services and independent platform to act as a catalyst on this stage of our journey; we see them very much as a long-term strategic partner.”
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“We were honored to step up and manage Parsyl for the Global Health Risk Facility at Lloyd’s,” said Andrew Brooks, the Group CEO of Ascot. We are thrilled to be able to support Parsyl as an investor and on underwriting prospects going forward because Asta is now the right partner as the company grows.
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Asta Takes Over Parsyl Syndicate From Ascot Underwriting
Julian Tighe, chief executive officer of Asta, commented: “We are delighted to provide Parsyl with the platform, support and services they will need to develop their operation successfully in Lloyd’s marketplace. This move comes at the right time for all the key stakeholders. Parsyl shows innovation and entrepreneurship in Lloyd’s at their best, alongside the market’s longstanding tradition of coming to help when the world is challenged.”
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