Ariel Re gets ‘in principle’ Lloyd’s approval to establish Syndicate 2006

Global reinsurance business Ariel Re has been given ‘approval in principle’ from Lloyd’s to establish a new Syndicate, 2006.

“Ariel Re was formed 20 years ago this year, the new syndicate number is in recognition of the fact that 2006 was the first year of business,” the company said in a statement.

With this approval, Ariel Re plans to restructure its Lloyd’s operations, commencing in 2026, by splitting them across two platforms: the existing Syndicate 1910 and the newly created Syndicate 2006.

Ariel Re explained that the new syndicate will have a balanced portfolio of Property Catastrophe, Other Property, Marine and Specialty, Cyber, and Clean Energy business (trading as Ariel Green).

Meanwhile, from next year, Syndicate 1910 will only underwrite Property Catastrophe reinsurance, aligning with its ILS peer group in Bermuda, but with the advantages of being a rated Lloyd’s carrier.

, securing $150 million of multi-peril retrocessional reinsurance protection with a state-weighted industry loss trigger over four years.

The firm added that it plans to begin quoting on behalf of Syndicate 2006 on 1 December 2025, for binding effective 1 January 2026.

Ariel Re Managing Agency Managing Director Darren Lednor commented, “We are excited to expand our presence in the Lloyd’s market with the launch of Syndicate 2006.

“Lloyd’s is fundamental to our strategy, and with this new syndicate, we are seeking to better appeal to the demands of our target capital base by offering differentiated investment products.”

“We are seeing strong interest from existing as well as potential new investors, and we expect Syndicate 2006 to be accretive to Ariel Re in 2026, and as the syndicate grows in 2027 and beyond.”