Hampden Group has said that it is to rebrand its follow-only syndicate Verto (Syndicate 2689) to Hampden Risk Partners.
The company said in a statement that the rebrand would better identify the syndicate with the Hampden Group and focus its purpose in terms of relationships with underwriting partners and capital support.
It said the rebranding of Verto also signifies an intention to change the business mix for the 2023 year of account.
Hampden Risk Partners’ business plan for 2023 is directed towards single class consortia to deliver the syndicate’s strategy of providing targeted capacity to underwriters in the Lloyd’s market, especially where third party capital does not have the opportunity to back syndicates or portfolios through traditional capital support channels.
Chris Sharp, who has led the direction of Verto since January and is an active underwriter, said: “This rebranding is an important step for us as we reset and relaunch our strategy of partnering with outperforming teams in the Lloyd’s market.”
He added: “The team at 2689 is proud to be part of the Hampden Group and this rebranding more closely aligns the syndicate’s offering with Hampden’s own history of superior customer service and risk selection.”
Hampden Group said that as lead underwriters look to expand into a hard market, it has identified significant demand for consortia partnerships where it can select and support a portfolio of syndicate opportunities in a non-competitive way by increasing lead line sizes, retaining business in the market and providing the ability to reduce market reinsurance spend.
It claimed that this model will continue to enhance the Lloyd’s brand, relevance, and profitability by backing market leaders to deliver strong, sustainable returns to capital providers.