The Fidelis Partnership Syndicate 3123 begins writing in Lloyd’s
The Fidelis Partnership Syndicate 3123, in collaboration with Fidelis Insurance Group and Hampden Agencies, has commenced underwriting business at Lloyd's. This marks the return of Richard Brindle, CEO, to Lloyd's after 26 years. The syndicate aims to write $180 million of Gross Written Premium in H2 2024 and $450 million in 2025, covering various insurance classes such as property catastrophe, political violence, marine, and aviation. The launch represents the largest Names-sponsored syndicate in Lloyd's history, aiming to leverage Lloyd's global licenses and capital structure. Key leaders, including Brindle and Daniel O'Connell, emphasize strategic growth and expanded market reach.
- The Fidelis Partnership Syndicate, supported by Fidelis Insurance Group, aims to write $180 million of Gross Written Premium in H2 2024 and $450 million in 2025.
- The syndicate will underwrite across multiple insurance and reinsurance classes, expanding its market reach.
- The launch of Syndicate 3123 represents the largest Names-sponsored syndicate in Lloyd's history.
- The collaboration grants Fidelis Insurance Group access to Lloyd's global licenses, brand, and capital structure.
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PEMBROKE,
The Fidelis Partnership Syndicate was launched by The Fidelis Partnership in collaboration with the Fidelis Insurance Group, a global specialty insurer, and Hampden Agencies, the largest provider of private capital to Lloyd’s. The sponsorship of this syndicate by The Fidelis Partnership marked the return of its Founder and Chief Executive Officer, Richard Brindle, to the Lloyd’s market after 26 years.
The Fidelis Partnership Syndicate has an initial target to write
Richard Brindle, CEO of The Fidelis Partnership, said: “I’m delighted that The Fidelis Partnership Syndicate is now in a position to start underwriting, representing the largest ever launch of a Names sponsored syndicate in Lloyd’s. We have embraced the vision John Neal, Patrick Tiernan and their team have for Lloyd’s, to further cement its place as a lead market and a price maker, and this shared enthusiasm has enabled us to move at pace since we announced the launch. During a period when the world is becoming more risky and less certain, thought leadership is more relevant than ever. In keeping with The Fidelis Partnership ethos, we have set out growth plans that will enable us to meaningfully expand our footprint in Lloyd’s over time.”
Daniel O’Connell, Active Underwriter of The Fidelis Partnership Syndicate, commented: “We have made a long-term strategic commitment to the Lloyd’s market and are pleased to now be writing business. Being active in Lloyd’s will enable The Fidelis Partnership to write a broader set of risks for more clients in more jurisdictions, while also benefiting from Lloyd’s’ global licences, brand and capital structure. We look forward to engaging closely with our brokers and bringing our underwriting capability and capacity to Lloyd’s.”
Dan Burrows, CEO of Fidelis Insurance Group, said: “We are excited to enter Lloyd’s through our participation in The Fidelis Partnership Syndicate. Unlocking new opportunities through Lloyd’s extensive global licenses and strong ratings this syndicate further enhances our capital and underwriting strategy and broadens the footprint of our business. We look forward to continuing our strong relationship with The Fidelis Partnership in this endeavour as we leverage our combined expertise and proactively manage and allocate capital to support profitable new underwriting opportunities.”
Alistair Wood, Hampden Agencies CEO, added: “The scale and ambition of this new syndicate, as well as the speed with which it has begun underwriting, demonstrates the appeal of good business plans with regulators and investors. Hampden Agencies is delighted to be involved and we are proud of our ability to access capital with scale.”
The managing agent for Syndicate 3123 is Asta, the leading third-party managing agent at Lloyd’s.
About The Fidelis Partnership
The Fidelis Partnership is a leading privately-owned,
About Fidelis Insurance Group
Fidelis Insurance Group is a global specialty insurer, leveraging strategic partnerships to offer innovative and tailored insurance solutions.
We have a highly diversified portfolio focused on three segments: Specialty, Bespoke, and Reinsurance, which we believe allows us to take advantage of the opportunities presented by evolving (re)insurance markets, proactively shift our business mix across market cycles, and produce superior underwriting returns.
Headquartered in
About Hampden Agencies
Hampden Agencies is a Lloyd’s members’ agent and adviser which represents and advises more than 1,000 clients on their underwriting affairs at Lloyd’s. It is the largest provider of private capital to Lloyd’s.
CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS
Certain statements relating to the Fidelis Insurance Group contained in this press release, in interviews and in related posts, constitute “forward-looking statements,” and are made pursuant to the safe harbor provisions of the
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The Fidelis Partnership Media Contacts:
FTI Consulting
TFP@fticonsulting.com
Fidelis Insurance Group Investor Contact:
Fidelis Insurance Group
Miranda Hunter
+1 (441) 279 2561
miranda.hunter@fidelisinsurance.com
Fidelis Insurance Group Media Contacts:
Rein4ce
Sarah Hills
+44 (0)7718 882011
sarah.hills@rein4ce.co.uk
Source: Fidelis Insurance Holdings Limited
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