Reinsurance broker Howden Re has revealed it advised global insurer Generali on establishing its Syndicate 2031 Red Bridge, of which Apollo acted as managing agent.
It has been confirmed that Howden Re was appointed as Generali’s exclusive adviser on the transaction.
The broker’s teams across Howden Re International, Howden Re Capital Solutions, and Howden Capital Markets & Advisory worked as an integrated unit to support the development of the reinsurance proposition, access to the Lloyd’s market, capital structuring, and strategic advisory services.
To recap, the new syndicate will assume a share of Generali’s outward reinsurance placements, across multiple lines of business, and has received approval in principle from the Council of Lloyd’s and is progressing towards launch.
Additionally, as previously highlighted, the platform aims to provide a strategic route into the Lloyd’s market and is part of Generali’s long-term approach to managing risk, aligning with its “Lifetime Partner 27: Driving Excellence” strategic plan.
Massimo Reina, Chief Executive Officer, Howden Re International, commented, “This transaction demonstrates the value of combining deep insurance sector expertise with a strong understanding of Lloyd’s capital.
“Working as one team across Howden, we have supported Generali in creating a tailored platform designed to broaden its strategic options and attract third-party support from across the Lloyd’s capital ecosystem. Interest in the opportunity reflects the continued appeal of the Lloyd’s market to a diverse range of capital providers.”
Vijay Mavani, Managing Director, Howden Capital Solutions, added, “This transaction demonstrates the value of the integrated Howden platform, combining deep reinsurance expertise, capital solutions capabilities and a strong understanding of Lloyd’s capital.
“Working closely with Philipp Kusche and colleagues across Howden Capital Markets & Advisory, we have operated as one team to support Generali in creating a tailored platform designed to broaden its strategic options and facilitate access to capital from across the Lloyd’s ecosystem. The level of interest in the opportunity highlights the continued attractiveness of the Lloyd’s market to a diverse range of capital providers.”
It can be said that this transaction also highlights Lloyd’s continued strength as a global marketplace, as it brings together underwriting expertise, specialist risk transfer, and capital.
