Allianz Commercial to launch new Lloyd’s direct underwriting syndicate

Allianz Commercial has announced plans to establish a new direct underwriting syndicate at Lloyd’s as it looks to strengthen its presence in the specialty market.

Called Allianz Commercial 1893, the syndicate is expected to begin underwriting on 1 January 2027, subject to final regulatory approval.

The proposed syndicate has already received in-principle approval from Lloyd’s.

Through the new operation, Allianz Commercial will gain greater access to specialty risks, facilities and selected MGA business placed through the Lloyd’s market.

Thomas Lillelund, chief executive at Allianz Commercial, said: “The new syndicate will establish a long-term direct underwriting presence for Allianz Commercial in one of the world’s leading specialty markets.

”It will expand our access to specialist business and strengthen our ability to serve clients and brokers facing increasingly complex and international risks.”

Lloyd’s expansion

The move will increase Allianz Commercial’s presence at Lloyd’s and provide an additional route for the insurer to write specialist business.

Dawn Miller, Lloyd’s chief commercial officer and chief executive of Lloyd’s Americas, said: “We are delighted to welcome this new Allianz syndicate to the Lloyd’s market.

”The decision to launch at Lloyd’s not only reflects our history of bringing together the world’s leading risk takers but is also a vote of confidence in the market’s unique advantages in servicing multinational, specialty and complex risks at scale.”