Ki will operate as a standalone company within the Fairfax Group starting January 1, 2025, according to an announcement by Brit Ltd., a global specialty re/insurer and a subsidiary of Fairfax Financial Holdings Limited.
Ki was incubated and launched by Brit in 2020 and began writing business on January 1st, 2021 with its syndicate, 1618. It was also reportedly one of the largest start-up syndicates in the history of Lloyd’s and the first digital follow syndicate.
Over the last four years, Ki’s growth has been significant as it evolved into a digital follow platform offering capacity from multiple syndicates with over $1 billion of gross written premiums (GWP) written through the platform in 2024.
With the scaling and development of Ki’s operations, it can now operate as a separate company within Fairfax. However, the firm will maintain its close partnership with Brit as a nominated lead across all classes.
It should be noted that these changes to corporate structure and operations will not impact how brokers trade with Ki or Ki’s appetite in any class of business.
Martin Thompson, Chief Executive Officer (CEO) Brit Group, commented, “Ki is a true success story for Brit, and testament to the vision and ambition of both organisations. The scale, sophistication and growth potential of Ki makes this a natural next step, enabling both companies to focus on their core strengths in ‘lead’ and ‘follow’ respectively.”
Mark Allan, CEO of Ki, added, “Ki’s achievements since its launch in 2020 validates our unique approach to digital fast-follow, built on underwriting discipline. The support we have had from the market highlights the collective belief in the benefits of a digitally enabled trading environment.
“We could not have wished for a better home than Brit for our first four years, and they remain a cornerstone partner for Ki. Becoming a standalone company is an important milestone for everyone at Ki and positions us to capitalise on the opportunities we have ahead of us. We want to thank everyone at Brit and Ki who has been part of our journey so far, as well as our valued partners in the market for their continued support and commitment.”
