Lloyd’s managing agent launches captive syndicate

Apollo Syndicate Management Ltd., a Lloyd’s of London managing agent, said Monday it has launched a captive syndicate at Lloyd’s.

The syndicate, managed by Apollo, is in partnership with an undisclosed “major global client.”

Captive syndicate 1100 is the first to be launched under Lloyd’s revised captive syndicate model, Dawn Miller, commercial director at Lloyd’s, said in a statement.

The development should allow large businesses to retain risk through their own Lloyd’s-rated syndicate, instead of through more traditional captive models, Apollo said.