The Fidelis Partnership and Fidelis Insurance coverage Holdings Ltd. collectively introduced that Syndicate 3123 has formally begun underwriting enterprise at Lloyd’s.
Syndicate 3123, also called The Fidelis Partnership Syndicate, was launched by The Fidelis Partnership in collaboration with Fidelis Insurance coverage Group, the worldwide specialty insurer, and Hampden Businesses, the Lloyd’s members’ agent and largest supplier of personal capital to Lloyd’s.
The sponsorship of this syndicate by The Fidelis Partnership marks the return of its Founder and Chief Govt Officer Richard Brindle to the Lloyd’s market after 26 years. The Fidelis Partnership first introduced it had received in-principle approval from Lloyd’s to launch a syndicate in March.
The Fidelis Partnership Syndicate has an preliminary goal to jot down $180 million of gross written premium (GWP) within the second half of 2024 and $450 million in 2025, underwriting throughout a number of insurance coverage and reinsurance courses together with contract frustration and political threat, credit score, property disaster, political violence, marine, and aviation.
“I’m delighted that The Fidelis Partnership Syndicate is now ready to begin underwriting, representing the most important ever launch of a names-sponsored syndicate in Lloyd’s,” commented Richard Brindle, CEO of The Fidelis Partnership, in a press release.
“We now have made a long-term strategic dedication to the Lloyd’s market and are happy to now be writing enterprise. Being lively in Lloyd’s will allow The Fidelis Partnership to jot down a broader set of dangers for extra purchasers in additional jurisdictions, whereas additionally benefiting from Lloyd’s’ international licences, model and capital construction,” in response to Daniel O’Connell, lively underwriter of The Fidelis Partnership Syndicate.
“We’re excited to enter Lloyd’s by way of our participation in The Fidelis Partnership Syndicate. Unlocking new alternatives by way of Lloyd’s intensive international licenses and powerful rankings this syndicate additional enhances our capital and underwriting technique and broadens the footprint of our enterprise,” commented Dan Burrows, CEO of Fidelis Insurance coverage Group.
The managing agent for Syndicate 3123 is Asta, the third-party managing agent at Lloyd’s.
About The Fidelis Partnership and Fidelis Insurance coverage Group
The Fidelis Partnership is a privately-owned, Bermuda-based managing basic underwriter, which, by way of its subsidiaries, underwrites property, bespoke and specialty insurance coverage and reinsurance merchandise.
Bermuda-based Fidelis Insurance coverage Group is a worldwide specialty insurer, leveraging strategic partnerships to supply tailor-made insurance coverage options.
Supply: Fidelis Partnership and Fidelis Insurance coverage Holdings
Subjects
Excess Surplus
Underwriting
Lloyd’s
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