Allied World’s new managing agency in the Lloyd’s insurance market opened for business in London yesterday.

Allied World Managing Agency Ltd received approval from Lloyd’s, the Prudential Regulation Authority and the Financial Conduct Authority to launch the agency, which will manage Allied World’s Syndicate 2232.

Previously, the syndicate was managed by Capita Managing Agency Ltd.

Syndicate 2232 commenced operations in June 2010, underwriting a diverse range of insurance and reinsurance product lines including international property, general casualty, professional lines and international treaty. Syndicate 2232 targets key territories in the Latin America and Asia Pacific regions as well as emerging markets in the Middle East and Africa.