Channel continues to develop its technical underwriting capabilities, growing specialist lines
of business by employing highly experienced managers from across the market spectrum.
Channel increasingly seeks to take lead positions, reflecting the strength of its capital backing. A particular focus is on broadening the distribution capability of the business. Expansion will come from a combination of organic growth of existing lines and by adding further specialist products to the business mix, always with a view to profit through disciplined underwriting and pricing.
As a principally direct, specialty insurance business, The Channel Syndicate operates in the open market and through coverholders. Channel leverages SCOR’s expertise and network in a number areas: Channel benefits from SCOR’s capacity support in specific areas and through its ability to offer specialist products to SCOR’s customer base. Channel also benefits from the support services and capabilities of one of the largest Global Reinsurers.
Channel Syndicate 2015 was approved by Lloyd’s in November 2010 and began trading in January 2011 with an initial stamp capacity of £75M, backed 100% by SCOR through the Corporate Member, SCOR Underwriting Limited. At the outset there were four divisions: Property, Marine, Accident & Health and Financial Lines. These teams, located on the 3rd gallery of Lloyd’s, were augmented in 2012 when a Specialty Division was created, which included Fine Art, Specie and Terrorism. In 2014, the portfolio was expanded to include Political and Credit Risks and by an Environmental Liability team.
In early 2014, The Channel Managing Agency Ltd, a wholly owned SCOR entity, was approved by Lloyd’s, the FCA and the PRA and began managing Syndicate 2015 from 1st April.
The Channel Managing Agency manages the operations of Syndicate 2015 including providing exposure management, risk management, compliance and DUA services to the syndicate.