The previously announced Greenlight Innovation Syndicate 3456 at Lloyd’s, Greenlight Re’s new insurtech-focused syndicate, received approval to commence underwriting from April 1st, 2022.
The new syndicate was launched under the syndicate in a box model at the specialist Lloyd’s insurance and reinsurance marketplace.
It’s been launched by its parent to provide insurance capacity to insurtechs within Greenlight Re’s expanding portfolio of insurtech partnerships.
Andy Gladwin, Managing Director at Greenlight Re, has been appointed as Active Underwriter of Greenlight Innovation Syndicate 3456.
Simon Burton, Chief Executive Officer (CEO) at Greenlight Re, commented: “I am delighted that Greenlight Innovation Syndicate 3456 has commenced underwriting. Our Innovations unit is central to the Company’s strategy, and the syndicate will help us support our existing partnerships as well as grow our insurtech portfolio.
“I would like to thank Asta, our managing agent, for their assistance in getting the Syndicate up and running.”
Julian Tighe, Chief Executive Officer at Asta, added: “We are pleased that Greenlight Innovation Syndicate 3456 has received Lloyd’s approval to start underwriting so quickly. Greenlight Re’s focus on insurtech fits well with Lloyd’s focus on innovation.
“This Syndicate highlights the flexibility and strength of the SIAB framework, which provides a swift and efficient route for aspiring new entrants into Lloyd’s.”
