Lloyd’s approves transfer of GIC Re’s Syndicate 1947 management to Asta

Asta, the third-party managing agency at Lloyd’s, has confirmed that Lloyd’s has approved the transfer of the managing agency agreement for GIC Re’s Syndicate 1947, effective 1 July 2025, with the agreement covering both open and prior underwriting years.

Asta will take on responsibility for operational support and oversight of the syndicate.

Syndicate 1947 was established in 2018 and writes business across property direct and facultative (D&F), property treaty, marine and specialty treaty, and non-marine specialty and consortia lines.

The syndicate is backed entirely by GIC Re, which provides 100% of the capital through its Lloyd’s corporate member.

Its stated objective is to extend the presence of Indian market expertise within the Lloyd’s insurance framework.

Ramaswamy Narayanan, GIC Re Chairman and Managing Director, said: “We are pleased to commence this partnership with Asta as we consider they are best-placed to help deliver the group’s strategy through managing our fully-aligned Lloyd’s syndicate, GIC Re Syndicate 1947.”

Lorraine Harfitt, CEO of Asta, added: “We are delighted to partner with GIC as it enters the next phase of its growth and evolution. Asta’s independent third-party platform allows us to focus exclusively on delivering for our clients, helping them achieve their strategic ambitions. Working with syndicate 1947 on this transition underscores our commitment to the Lloyd’s market and to our client partnership model. We look forward to working with the GIC team for the rest of 2025 and beyond.”

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