Lime Syndicate Management Limited (Lime), the wholly owned subsidiary of Somers Group Holdings Ltd., a global specialty property and casualty (P&C) reinsurance group, has received all regulatory approvals to operate as a Lloyd’s Managing Agent.
Lime’s first syndicate under management will be Somers 3705.
Somers 3705 will commence underwriting on January 1, 2025, and it will have a key focus on delegated authority and consortium opportunities.
In addition, Somers 3705 is expected to broaden Somers’ existing distribution channels and territories, leveraging both Lloyd’s reputation as a renowned global marketplace with its flow of business, as well as Somers’s integral relationship with reinsurer Arch Re.
“We are glad to support Lime in this endeavour, and the opportunity that the new Lloyd’s platform offers to Somers. We look forward to the growth of the Somers syndicate and broadening of our global platform via Lloyd’s,” commented Liz Cunningham, CEO of Somers.
“We are delighted to have put together a strong team with a sophisticated and technologically advanced product. Our real work starts now to make Lime into a leading managing agency in the Lloyd’s market,” said David Reeves, CEO of Lime.
