Ki to operate as standalone company within Fairfax Group

Algorithmic Lloyd’s digital follow platform Ki has completed its separation from its parent company to become a standalone within the Fairfax Group.

As a standalone company, Ki will reportedly continue to focus on becoming the market-leading digital and data-led specialty insurance business.

According to Ki, the change to corporate structure and operations will not impact how brokers trade with it or its appetite in any class of business.

Fairfax Financial Holdings Limited and Blackstone, which each committed $500 million in capital in 2020 to support Ki, will remain shareholders of the company.

Ki has additionally appointed Asta Managing Agency Limited as Managing Agent.

Mark Allan, CEO of Ki, commented, “Ki has become one of the most successful insurtech start-ups in our sector. In the space of four years, we have seen real momentum build behind our business model and we have now reached the scale to become standalone. We have helped brokers and clients seamlessly place complex specialty business at Lloyd’s with our market-leading platform.

“As Ki embarks on the next chapter of its growth, our autonomy, alongside the partnership with Asta, will enable us to focus on expanding our support of our partner brokers and accelerating the development of our algorithmic underwriting capabilities.

“As a standalone company within Fairfax, we will be even better placed to achieve our potential and we are excited by the opportunity to further innovate in our offering to brokers and clients in years to come.”

Lorraine Harfitt, CEO of Asta, said, “We are delighted to partner with Ki as it embarks on this exciting new chapter. Asta’s independent third-party platform allows us to focus exclusively on delivering for our clients, helping them achieve their strategic ambitions.

“Working with Ki on this significant transition to Asta hosting Syndicate 1618 underscores our commitment to fostering innovation and evolution in the market. We look forward to continuing our work with the Ki team through 2025 and beyond.”

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