Hamilton Insurance Group reveals Lloyd's syndicate placed into run-off

“As we completed the capital raising process at Lloyd’s, we concluded that Acappella was unlikely to produce an adequate return on capital.” Those were the words of Hamilton Insurance Group boss Pina Albo when it was announced that Acappella Syndicate 2014 is being placed into run-off and will cease writing business effective immediately. “As conscientious stewards of both our and third-party investors’ capital, and with our focus on underwriting profitability, it was determined that the best course of action would be to discontinue the business,” stated the group chief executive, who noted that they are currently in discussions with the impacted employees.