Sukoon’s Syndicate 2880 obtains Dubai International Financial Centre licence

Sukoon’s Syndicate 2880 obtains Dubai International Financial Centre licence

Move will strengthen its operation in the market

DIFC is the largest insurance hub in the region. - Supplied photo

Published: Wed 21 Dec 2022, 4:44 PM Last updated: Wed 21 Dec 2022, 5:17 PM

The Dubai International Financial Centre (DIFC) has granted an operating licence to Sukoon’s Syndicate 2880.

Sukoon will be the first syndicate-in-a-box (SIAB) to operate outside of London with the support of Lloyd’s DIFC. As part of the programme’s evolution, the new entity will now operate under the DIFC platform and exclusively underwrite business on behalf of the syndicate. This unique feature will further strengthen Sukoon’s position and support Lloyd’s Dubai’s plans to develop more regional distribution of capacity.

The new office at DIFC will be led by Amey Masurkar as the SEO and syndicate manager. Mike Davies will head international marine and international business development whilst Christopher Wildee will remain the active underwriter along with a team of dedicated syndicate underwriters.

Earlier this year in March, Sukoon and Asta, a third-party managing agent at Lloyd’s, announced that Sukoon’s Syndicate 2880 has received Lloyd’s approval to commence underwriting.

Jean-Louis Laurent Josi, CEO of Sukoon, said: “We are excited to have our Lloyd’s Syndicate operations in DIFC. With the ability to exclusively underwrite business