Lloyd's holds back SPAs as trio of syndicates get nod

Lloyd's has pushed back the approvals process for
Barbican's special purpose arrangement (SPA) with Toa Re and
Apollo's venture with Mark Rayner, The Insurance
Insider understands.
The decision on their launch was deferred to the Franchise Board
meeting in late October in order to privilege three full syndicate
start-ups looking to commence operations on 1 January.
Sources said that Barbican's Lloyd's
sidecar with the Japanese reinsurer and the SPA of the former
Faraday chief underwriting office