Statera Managing Agency Limited (“Statera”) today announced it has received regulatory approval to act as a Lloyd’s Managing Agent.
Statera will manage Syndicates 4242 and 1416, which currently underwrite specialty risks produced through their strategic relationship with Octave Ventures, a division of Octave Specialty Group, Inc. The Syndicates benefit from Lloyd’s A+ financial strength rating, global licenses, and flexible access to capital from a diverse investor base comprising reinsurers, high-net-worth individuals, and institutional investors.
Previously, the Syndicates’ managing agent was Asta Managing Agency Limited, with Octave Ventures guiding the strategy and delivering day-to-day operations under a management agreement. The launch of Statera, a subsidiary within Octave Ventures, brings full Lloyd’s management capabilities in-house, eliminates critical third-party dependencies, and further enhances the ability to connect risk and capital.
Scott Fordham, Chief Executive Officer of Statera, said: “This is a significant milestone. While we have long been actively managing the Syndicates, becoming a Lloyd’s Managing Agent enhances our capabilities and further enables us to add value to the Lloyd’s market. We expect a seamless transition of Syndicate management with minimal operational change, as Octave Ventures already provides much of the infrastructure supporting the Syndicates.”