New direct underwriting syndicate is expected to begin trading from 1 January 2027, with Polo Managing Agency appointed as managing agent
Allianz Commercial plans to establish a new direct underwriting syndicate at Lloyd’s, with Allianz Commercial 1893 expected to begin trading from 1 January 2027.
The syndicate has received in-principle approval from Lloyd’s and remains subject to final regulatory approval.
Polo Managing Agency has been appointed as managing agent and has supported Allianz through the establishment process, providing Lloyd’s market infrastructure and expertise.
Allianz Commercial said the syndicate will give it greater access to specialty, facilities and selected MGA business within Lloyd’s and establish a long-term direct underwriting presence in the market.
The syndicate number reflects Allianz’s first international expansion in 1893, when it opened an office in London three years after the group was founded in Berlin.
Thomas Lillelund, CEO of Allianz Commercial, said: “The new syndicate will establish a long-term direct underwriting presence for Allianz Commercial in one of the world’s leading Specialty markets.
“It will expand our access to specialist business and strengthen our ability to serve clients and brokers facing increasingly complex and international risks.”
The launch will add to Allianz’s existing presence at Lloyd’s, which recorded £57.9bn of gross written premium and accounts for around half of the wider London insurance market.
Dawn Miller, chief commercial officer at Lloyd’s and CEO of Lloyd’s Americas, said: “We are delighted to welcome this new Allianz syndicate to the Lloyd’s market.
“The decision to launch at Lloyd’s not only reflects our history of bringing together the world’s leading risk takers but is also a vote of confidence in the market’s unique advantages in servicing multinational, specialty, and complex risks at scale.”
Polo Managing Agency has helped launch six Lloyd’s syndicates since 2025, including Atradius Syndicate 1864, Aurora Syndicate 1890, OAK Enterprise Syndicate 1440 and Niyam Syndicate 2047.
Phil Smith, CEO of Polo Managing Agency, subject to regulatory approval, said: “Through Polo Managing Agency, we have worked closely with the Allianz team to support the establishment of Allianz Commercial 1893 and provide the infrastructure and Lloyd’s market expertise behind the new syndicate.”
No comments yet