Slow-down in start-ups

Just two new start-up syndicates will begin operating in 2015,
half the number that launched throughout 2014.
The new syndicates will be backed by the Standard Club and China
Re - the latter graduating to full syndicate status three years
after establishing a special purpose syndicate (SPS) with Catlin in
2012.
This model is one that other new SPS entrants for
2015 will be hoping to emulate. Three new SPS vehicles are being
launched, the same as in 2014.
As...