Santam secures final approval to launch Syndicate 1918 at Lloyd’s

Santam has received final permission from Lloyd’s to launch Syndicate 1918, enabling the South African insurer to begin underwriting business incepting from 1 January 2026.

The new Lloyd’s syndicate marks a major step in Santam’s international expansion and diversification strategy, the firm emphasised.

The group said it expects gross written premium to exceed £300m in its first year, bringing a new Southern African-led but internationally focused proposition to the Lloyd’s market.

Santam has assembled an experienced leadership team to oversee the launch.

Rob Vetch (pictured), who has 30 years’ experience in the global (re)insurance market, will serve as CEO and chief financial officer.

Simon Clapham, with more than 45 years in the market, becomes chief underwriting officer and active underwriter.

Richard Weston joins as chief actuary and chief risk officer, while Carla Jordan takes the role of chief engagement and portfolio officer.

Further underwriting appointments will follow, Santam indicated.

The syndicate will initially focus on international and North American property, marine, energy, political violence and terrorism, financial institutions, professional indemnity and cyber.

Santam is South Africa’s leading general insurer with a market share in excess of 22%, which represents over three million policyholders.

It provides a range of re/insurance products in Southern Africa and internationally through a network of 3,300 intermediaries and direct channels.

It is a subsidiary of Sanlam, the largest non-banking pan-African financial services group headquartered in South Africa, focused on emerging market economies, covering 31 countries in Africa, Asia and the UK.

Tavaziva Madzinga, Santam Group CEO, said the Lloyd’s platform would accelerate the company’s FutureFit2030 strategy.

“International growth and diversification is a key component of our FutureFit2030 strategy,” he said.

“The syndicate is a major step in realising our international ambitions and transforming the Santam Group. We are excited to receive permission to underwrite and look forward to opening for business on 1 January 2026.”

Vetch said the launch represented an important milestone for the group.

“Beginning a business at Lloyd’s for Santam, South Africa’s leading insurer with more than 100 years of history, is incredibly exciting,” he said.

“Our team is looking forward to being fully live from 1/1, collaborating closely with our international distribution brokers, creating new synergies with clients and bringing new business to London.”

Lorraine Harfitt, CEO of Asta, which manages the syndicate, said Santam’s arrival would add depth to the Lloyd’s market.

“Asta is delighted to have the opportunity to manage Santam Syndicate 1918 and work closely with Rob and his team on the launch,” she added.