Asta, through its third-party managing agency at Lloyd’s, announced the “in-principle” approval of a syndicate-in-a-box (SIAB) to deliver a breakthrough insurance product that aims to accelerate the development of new therapeutic drugs.
MCI Syndicate 1966, supplemented by Lloyd’s consortia, is targeting commencing underwriting from April 2024 with a forecast annual gross premium written for 2024 of £75 million ($94.3 million), subject to the necessary final checks and processes from Lloyd’s.
(The SIAB model was developed by Lloyd