Agile Underwriting receives ‘in-principle’ approval to establish Syndicate 2427 at Lloyd’s

Agile Underwriting Services has received ‘in-principle’ approval from the Lloyd’s insurance and reinsurance marketplace to create Agile Syndicate 2427 (AUS 2427), and anticipates writing £34.1 million of gross written premium (GWP) for the 2024 year of account.

Syndicate 2427 will be established under the ‘syndicate-in-a-box’ framework and be managed by Asta via its third-party managing agency platform at Lloyd’s.

The expected £34.1 million of GWP in 2024 is forecasted to rise to £62.1 million for the 2026 year of account, with Agile targeting liability, professional indemnity, accident and health, property and travel as key growth areas.

Agile says that it will leverage its market position to access niche and SME business written in the domestic APAC market, bringing this business to Lloyd’s through the syndicate. It plans to position the Syndicate alongside its existing binders, maintaining its existing successful relationships while bringing local expertise and tech distribution.

Mark Hunt, an industry veteran with a career spanning four decades, will be appointed active underwriter of the Syndicate. His career started at Syndicate 386, before moving to help establish Syndicate 1156. He was also a deputy active underwriter of Syndicate 2525. More recently, he held senior underwriting management roles at Zurich Australia across all classes and segments.

Robin Barham, Chief Executive Officer, Agile, commented, “Through syndicate 2427, we will facilitate access to geographies and market niches that the Lloyd’s market is currently unable to write affordably. Lloyd’s industry-leading position, excellent reputation and licenses, combined with Asta’s unrivalled experience and expertise as our managing agent, make them ideal partners for us to deliver future growth.”

Lorraine Harfitt, CEO, Asta, said, “APAC represents a significant opportunity for the Lloyd’s market. Innovative offerings like Agile Syndicate 2427, benefit the market greatly and their ability to underwrite at Lloyd’s as a SIAB is exactly what the SIAB model, in partnership with our third-party management capabilities, was designed to enable. We look forward to working with the team and assisting them in reaching their full growth potential.”

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