Private equity-backed Antares Syndicate 1274 has withdrawn from
the property direct and facultative (D&F) class with immediate
effect, Inside FAC has learned.
It follows last month's decision by Chaucer - one of Antares' original investors and its former managing agent - to withdraw from its US binder and facultative property business.
"We are feeling the market conditions are not conducive to writing a property D&F account," Stephen Redmond, managing director of Antares, told Inside FAC.
"We've been reducing our premium...
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