Coverys Managing Agency Placing Lloyd’s Syndicate 1991 Into Runoff

Coverys Managing Agency Ltd. announced that its DTW Syndicate 1991 at Lloyd’s of London will stop accepting new and renewal business starting December 31, 2020.

“Every effort has been made to implement remediation measures on underperforming business over the past few years, however, the results have not improved sufficiently to deliver a sustainable and long-term profitable outcome,” said Robin McCoy, CEO of Coverys Managing Agency.

The syndicate’s lines of business include property, liability, professional indemnity, directors and officers, and accident and health.

U.S.-base Coverys is a medical professional liability insurer that began expanding internationally in 2017 by forming Coverys Syndicate 1975 and Coverys Managing Agency to serve the Lloyd’s market. Coverys Managing Agency also oversees Syndicate 3330.