Carbon Underwriting Limited, a specialist and independent managing general underwriter, announces the launch of its second syndicate, Syndicate 5757, following approval from Lloyd’s.
The firm, known for its expertise as a managing general underwriter and operating Lloyd’s syndicate CBN 4747, is thrilled to share that it has received in-principle approval from Lloyd’s for the establishment of Syndicate 5757, set to launch on 1 January 2025.
This development underscores Carbon’s commitment to expanding its territorial footprint and ambition to become a global leader in delegated authority business.
The introduction of Syndicate 5757 aims to tap into the expansive US programme business market.
This move aligns with Carbon’s strategic goals of leveraging its proprietary technology to drive innovation and high-quality underwriting in a market known for its dynamic and data-rich environment.
Syndicate 5757, built around Carbon’s Graphene ecosystem, is designed to focus exclusively on US programme business.
By harnessing advanced processes and technology, Carbon intends to deliver superior underwriting results in the US market, characterised by its size and scale.
The new syndicate will be managed by Asta, a leading third-party managing agent at Lloyd’s, which also facilitated the launch of Carbon’s first syndicate, CBN 4747.
Asta’s involvement highlights the effectiveness of its cost-efficient third-party management model, which supports entrepreneurial underwriters entering Lloyd’s market.
Lorraine Harfitt, Asta CEO, commented, “Carbon’s latest success highlights the strength of Asta’s partnership approach, not just in launching new underwriting businesses, but also in our commitment to supporting our clients’ strategic growth initiatives. This approval of Syndicate 5757 as Carbon’s second syndicate at Lloyd’s is a testament to the Carbon team’s innovative vision. We are excited to continue our collaborative efforts and look forward to achieving even greater milestones together in the future.”
Carbon Founder and CEO Nick Tye stated, “We are thrilled to receive ‘in-principle’ approval from Lloyd’s for Syndicate 5757. This is a significant development to our offering as we look to access the expansive US programme market. The US market’s size and scale is incredibly exciting, and our data-driven approach positions us as market leaders for portfolio underwriting in this territory. We can evidence that superior data drives superior insights, and we look forward to continuing to achieve market-leading underwriting results for both ourselves and our partners as we continue to grow.”
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