Greenlight Innovation Syndicate 3456 has received in-principle approval from Lloyd’s to become a full syndicate effective January 1, 2027. The syndicate, which writes Greenlight Re Innovations business with a focus on Coverholder partnerships, began underwriting as a Syndicate-in-a-Box on April 1, 2022, with the support of third-party managing agent Asta. Over the last four years, Syndicate 3456 has returned an underwriting profit each year and provides Insurtech companies within the Greenlight Re Innovations client portfolio with access to the Lloyd’s platform, international licensing and rating. The transition to full syndicate status is expected to produce increased gross written premium volume and will allow Syndicate 3456 to expand its offering to include more traditional delegated underwriting authority and consortia business, as well as a limited amount of treaty reinsurance, while Innovations business remains the primary focus.
Greenlight Capital Re LtdGreenlight Re's syndicate 3456 receives in-principle approval to become full Lloyd's syndicate, expected to increase gross written premium and expand business.
ASTA Corporation