Ki separates from Brit to become standalone company

Algorithmic digital-follow underwriter Ki has separated from Brit to become a standalone company within the Fairfax Group.

The move, which was effective from 1 January 2025, comes as Ki looks to focus on expanding support for partner brokers and accelerating the development of its algorithmic underwriting capabilities.

The firm has also appointed Asta Managing Agency as its managing agent, providing Ki with more support as it embarks on being a standalone firm.

Ki stressed that the change in corporate structure and operations will not impact how brokers trade with it or its appetite in any class of business.

Mark Allan, chief executive at Ki, said: “Ki has become one of the most successful insurtech startups in our sector.

“In the space of four years, we have seen real momentum build behind our business model and we have now reached the scale to become standalone.

“We have helped brokers and clients seamlessly place complex specialty business at Lloyd’s with our market-leading platform.”

Growth

Ki was founded in 2020 and began writing business through Syndicate 1618 in 2021.

Fairfax Financial Holdings and funds managed by Blackstone Tactical Opportunities invested $500m (£402.1m) in 2020 to support Ki’s growth.

Both Blackstone and Fairfax will remain shareholders of Ki.

Allan said: “As Ki embarks on the next chapter of its growth, our autonomy, alongside the partnership with Asta, will enable us to focus on expanding our support of our partner brokers and accelerating the development of our algorithmic underwriting capabilities.

“As a standalone company within Fairfax, we will be even better placed to achieve our potential and we are excited by the opportunity to further innovate in our offering to brokers and clients in years to come.”