Approval clears the way for underwriting ahead of the syndicate’s 1 January 2027 launch, with an initial portfolio spanning specialty and corporate lines
HDI Global UK and Ireland has received Permission to Underwrite from Lloyd’s for Syndicate 2029, clearing the way for underwriting activity ahead of its 1 January 2027 launch.
The approval follows Lloyd’s approval in principle earlier this year and completes the syndicate’s regulatory and operational readiness process.
Syndicate 2029 will complement HDI’s existing insurance platforms and form part of its Xcelerate29 growth strategy.
The syndicate will initially write a portfolio of specialty and corporate insurance business through Lloyd’s.
Classes will include credit and political risk, accident and health, political violence and terrorism, fine art and specie, contingency, financial and professional lines, bloodstock, mining, marine cargo, cyber, digital solutions, medical malpractice and clinical trials.
Louise Radford will serve as active underwriter, with responsibility for underwriting strategy, risk appetite and regulatory compliance.
The syndicate will be launched and managed in partnership with PoloWorks.
Radford said: “Receiving Permission to Underwrite from Lloyd’s is a landmark achievement for HDI Global UK & Ireland and an important step in the delivery of our Xcelerate29 strategy.
“The products in scope for Syndicate 2029 represent strategic growth areas for HDI, complementing our existing underwriting capabilities and giving clients and brokers greater choice and access to our specialist expertise through the Lloyd’s globally recognised marketplace.”
Dawn Miller, chief commercial officer at Lloyd’s and CEO of Lloyd’s Americas, said: “As one of Europe’s leading commercial insurers, we are pleased to welcome HDI to the Lloyd’s market.
“Their decision to establish a syndicate is a strong endorsement of the continued appeal of Lloyd’s and Lloyd’s Europe to our customers and partners across the continent and around the world.”
Phil Smith, CEO of Polo Managing Agency, subject to regulatory approval, added: “We are delighted to support HDI Global UK & Ireland as Syndicate 2029 receives Permission to Underwrite.
“This milestone demonstrates the strength of the proposition HDI is bringing to the Lloyd’s market and we look forward to continuing our support for Louise and the wider HDI team once underwriting has commenced.”
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