Lloyd's approves Apollo SPA 6133

Lloyd's Franchise Board has granted managing agency Apollo
in-principle approval to establish Special Purpose Arrangement
(SPA) 6133, which will reinsure a portfolio of property catastrophe
business underwritten into its main Syndicate 1969.
The
Insurance Insider understands that stamp capacity for
the new venture is £35mn ($46mn), with support coming from
both trade capital and Names.
The decision to approve the new SPA follows a delay in the
authorisation process earlier this month as Ll