Lloyd’s syndicates pledge up to £40m to back new private-capital MGA Alpha TR

Lloyd’s of London’s syndicates have committed to provide up to £40 million of risk capital for each policy issued by Alpha TR, a newly launched managing general agent that will specialise in transactional risk insurance for private-capital and alternative-asset fund managers. Backed by major insurers AXA XL and Aviva, Alpha TR will operate as a Lloyd’s coverholder and target international business, offering products such as M&A insurance for secondary fund buyouts, comprehensive tax coverage and contingent policies.

The firm’s senior team is led by managing director Richard Taylor-Whiteway, formerly a tax lawyer at CMS and a director at Brockwell Capital, with directors Dave Luckett, a former corporate lawyer with underwriting experience, and Laurence Tarr, who has held senior underwriting roles at Brockwell Capital and one outlet. Alpha TR anticipates that the bulk of its premium will be generated outside the UK, and it aims to deliver above-market results for its capacity providers. Lloyd’s sees growing demand for specialised MGA lines, noting that similar arrangements, such as with K2 PI, have enabled MGAs to write international business beyond UK-only limits.