New syndicate begins underwriting business at Lloyd’s of London

Fidelis Partnership Syndicate 3123 has begun underwriting business at Lloyd’s of London.

The syndicate was launched back in April by The Fidelis Partnership, which worked in collaboration with speicalty insurer Fidelis Insurance Group and Hampden Agencies.

It has an initial target to write $180m (£142m) of gross written premium (GWP) in H2 2024 and $450m (£354) in 2025.

Daniel O’Connell, active underwriter at the syndicate, said: “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.”

Classes

The syndicate will operate across multiple insurance and reinsurance classes, including contract frustration and political risk, credit, property catastrophe, political violence, marine and aviation.

Dan Burrows, chief executive of Fidelis Insurance Group, said: “We are excited to enter Lloyd’s through our participation in The Fidelis Partnership Syndicate.

“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.”