New syndicate will expand HDI Global’s access to Lloyd’s licences and distribution as part of its Xcelerate29 growth strategy
HDI Global UK & Ireland has received approval in principle from Lloyd’s to establish a new syndicate.
The insurer timed its London market news announcement for the RVS 2026 event taking place in Monte Carlo this week.
The proposed vehicle has been assigned Syndicate 2029 and will be launched and managed in partnership with PoloWorks.
HDI said the syndicate will complement its existing insurance platforms and global footprint, giving clients and brokers access to Lloyd’s licences, infrastructure and market capabilities.
The approval allows HDI to progress through the remaining regulatory and operational stages ahead of receiving permission to begin underwriting, which it expects in the coming months.
Simon Hunt, CEO of HDI Global UK & Ireland, said: “Receiving approval in principle from Lloyd’s is an important milestone for HDI Global UK & Ireland and reflects the strength of our strategy, underwriting expertise and long-term commitment to the market.
“Establishing a syndicate will enable us to offer greater choice to clients and brokers, broaden our market reach and create additional opportunities for sustainable growth.”
The move forms part of HDI’s Xcelerate29 strategy, which is focused on global growth and expanded distribution.
David Hullin, member of the HDI Global SE executive board responsible for international regions and international programmes, said: “The approval in principle from Lloyd’s represents an important strategic step for HDI Global.
“Expanding our presence in the Lloyd’s market is fully aligned with our Xcelerate29 strategy and, fittingly, the syndicate has been assigned the number 2029, reflecting the ambitions that underpin our growth journey.”
PoloWorks will provide the infrastructure and Lloyd’s market expertise to support the syndicate’s establishment and operation.
Paul Andrews, CEO of PoloWorks and Polo Managing Agency, said: “Through Polo Managing Agency, we have worked closely with the HDI team to establish the foundations for a successful Lloyd’s platform.
“HDI brings strong underwriting expertise and clear ambitions for the market, and we look forward to continuing our partnership as the syndicate progresses towards launch,” he added.
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