Cobalt syndicate start date deferred

Shariah-compliant insurer Cobalt is set to miss its 1 April
projected start date at Lloyd's as it continues work to secure
capital support for its proposed syndicate on acceptable terms,
The Insurance Insider understands.
The proposed Cobalt Syndicate 1438, which was given in-principle
approval in October 2016, has not been granted formal approval as
it is yet to secure the reinsurance capital it needs to meet its
Funds at Lloyd's (Fal) requirements.
A previous arrangement put forward by takaful