Niyam Group has received in-principle approval from Lloyd’s to establish a new syndicate, as it looks to deploy disciplined reinsurance capacity into India and other high-growth markets across Asia and Africa

Niyam Group has been granted in-principle approval by Lloyd’s to launch Syndicate 2047, marking a key step in its long-term growth strategy.

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The proposed syndicate will be managed by Polo Managing Agency and is intended to begin underwriting on 1 April 2026, subject to the completion of regulatory, capital and operational requirements.

Syndicate 2047 is positioned as the first Lloyd’s syndicate dedicated to supporting the Indian market.

The initiative aligns with India’s “Viksit Bharat 2047” ambition to become a developed economy by the centenary of its independence, as well as Niyam’s stated focus on building economic resilience.

Sima Ruparelia, president and active underwriter at Niyam Group, said the approval validated the group’s long-term underwriting approach.

“Receiving in-principle approval from Lloyd’s is an important validation of our underwriting philosophy and long-term approach,” Ruparelia said.

“We are focused on building a high-quality, sustainable syndicate that serves cedants and brokers, and supports market development, with consistency and discipline.”

Paul Andrews, CEO of PoloWorks, said the proposal reflected strong alignment between underwriting vision and market opportunity.

“Niyam brings a clear underwriting vision, disciplined execution, and a strong commitment to supporting India and other high-growth markets,” Andrews said.

“Lloyd’s in-principle approval is an endorsement of the team and the plan, and we are proud to manage the syndicate through the Lloyd’s market.”

Brokers have also highlighted the strategic importance of the Indian opportunity.

Vicky Carter, chairman, global capital solutions, international at Guy Carpenter, said India represented one of the most compelling growth markets globally.

“Niyam’s proposition of locally embedded leadership, combined with the capital and expertise of the Lloyd’s market, will unlock sustainable growth and strengthen market resilience,” Carter said.

Niyam’s investor base includes J.C. Flowers & Co., with Macquarie Capital acting as adviser.

Bobby Swarup, founder and CEO of Niyam Group, said the approval marked the formal start of the group’s long-term vision.

“This marks the beginning of our vision 2047, dedicated to serving India and high-growth markets,” Swarup said.

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