Greenlight Capital Re has received Lloyd’s approval for Syndicate 3456 to commence underwriting, as of 1 April 2022.
Greenlight Innovation Syndicate 3456 was launched under the syndicate in a box (SIAB) model and has appointed Andy Gladwin as active underwriter. The syndicate will provide insurance capacity to insurtechs within Greenlight Re’s growing portfolio of insurtech partnerships.
“I am delighted that Greenlight Innovation Syndicate 3456 has commenced underwriting,” said Simon Burton, chief executive officer at Greenlight Re, in a press release. “Our Innovations unit is central to the company’s strategy, and the syndicate will help us support our existing partnerships as well as grow our insurtech portfolio. I would like to thank Asta, our managing agent, for their assistance in getting the Syndicate up and running.”
Lloyd’s managing agent Asta is responsible for 12 syndicates, one SPA, and two syndicates in a box with capacity under management in 2022 of more than £1.4 billion.
Julian Tighe, chief executive officer at Asta, said Greenlight Re’s focus on insurtech fits well with Lloyd’s focus on innovation. “This Syndicate highlights the flexibility and strength of the SIAB framework, which provides a swift and efficient route for aspiring new entrants into Lloyd’s.”
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