London — Mayer Brown’s transactional Insurance team in London advised Argenta’s managing agency on the formation of a special purpose arrangement (SPA) by a group of underwriters formerly with Vibe, after the decision was taken to put Vibe Syndicate 5678 into run-off.
When the decision was announced, the team of 15 underwriters sought new backing to trade forward, and they were able to form an SPA under Argenta’s managing agency, joining Argenta’s Syndicate 2121 to write casualty lines of business in time for January 1, 2020, when a significant portion of the former Vibe book renewed.
Argenta Private Capital Limited has a worldwide client base and manages over £2.2 billion of investor capacity in the Lloyd’s Market.
The team was led by Corporate & Securities senior counsel Jeremy Hill and included partner Colin Scagell.
Senior counsel Jeremy Hill said: “The nature of our transactional insurance practice, in London and globally, means we are very well placed to support teams and organizations responding to change in the current insurance markets.”