Norton Rose Fulbright has advised on the start-up of Probitas Syndicate 1492 at Lloyd’s, the world’s specialist insurance market.

Lloyd’s Franchise Board has approved for Probitas 1492 Syndicate to commence underwriting on October 5, 2015 under the management of Capita Managing Agency on a turn-key arrangement basis.

The Norton Rose Fulbright team in London advising on the start-up was led by partner David Whear and included associates Rebecca Goldie and Kate Luton.

David Whear, who leads the Lloyd’s team at Norton Rose Fulbright advising on transactional and regulatory matters involving all aspects of the Lloyd’s market, commented:

“We are delighted to have advised on this exciting new venture at Lloyd’s. Whilst the environment for new insurance businesses remains challenging both within and outside the Lloyd’s market, there is always room for businesses with a clear innovative strategy and high quality people. To this end the Probitas syndicate aims to deliver new business from emerging markets to Lloyd’s in line with Lloyd’s Vision 2025 strategy. We wish the Probitas team and its backers a successful future.”