Apollo launches first captive syndicate of ‘modern era’ at Lloyd’s

Apollo Syndicate Management has launched its first captive syndicate of the “modern era” of Lloyd’s.

According to Apollo, the launch of Captive Syndicate 1100 is the latest development in its aim to expand its market offerings and managing agency services.

It also signals the start of Lloyd’s new initiative, where large captive clients can retain risk through their own Lloyd’s rated syndicate instead of via more traditional captive models.

David Ibeson, group chief executive of Apollo, said: “Establishing the first captive syndicate is a great achievement for our client, Apollo and our industry.

”We are extremely proud of this milestone and the way in which it reinforces Apollo’s reputation for the delivery of market-leading innovation at Lloyd’s.”

Flexibility 

Apollo also felt the launch ”increases the flexibility of a client’s risk retention and allows them to take advantage of what their own Lloyd’s syndicate offers”.

Dawn Miller, commercial director at Lloyd’s, said: “We are delighted to welcome Captive Syndicate 1100, which is the first syndicate to be launched under Lloyd’s revised captive syndicate model.

”As part of our ongoing work to provide specialist risk solutions for our customers, we have sought to align our captive structure with the needs of third parties seeking access to operational benefits through Lloyd’s global insurance expertise, licence network and financial strength ratings.

”We look forward to welcoming further businesses to our captive platform in the near future.”