HDI Global UK & Ireland has secured Lloyd’s Permission to Underwrite for Syndicate 2029, clearing the way for it to commence underwriting ahead of the syndicate’s planned launch on 1 January 2027.
HDI noted that the approval marks the successful completion of the regulatory and operational readiness process following Lloyd’s Approval in Principle earlier this year.
The firm added that the development also reflects the strength of its proposition, underwriting expertise, and long-term commitment to the London market.
Syndicate 2029 will initially write a portfolio of Specialty and Corporate insurance products through the Lloyd’s market, including 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.
The syndicate will be launched and managed in partnership with PoloWorks, whose infrastructure and Lloyd’s market expertise will reportedly support its ongoing operation.
Louise Radford, Active Underwriter for Syndicate 2029, commented, ”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, Lloyd’s Chief Commercial Officer 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. It demonstrates the value of combining HDI’s scale and expertise with Lloyd’s specialist market, financial strength and international reach.”
Phil Smith, CEO, Polo Managing Agency, 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, helping Syndicate 2029 deliver its ambitions in the Lloyd’s market.”
