Aviva to rebrand acquired Lloyd’s syndicate

Aviva has confirmed that it will rebrand Lloyd’s syndicate Probitas 1492 to Aviva Syndicates to cement the integration of the business, which it acquired in 2024. 

Aviva Syndicates will operate under the Aviva Global Corporate and Specialty (GCS) business, with the insurer explainingthat, since the beginning of the year, teams have been “fully integrated” and are now “trading as a combined business”. 

The planned rebrand will take effect from the end of September 2026 and Aviva said this would mark “a significant milestone” in the integration of its Lloyd’s platform. 

Jason Storah, Aviva chief executive for UK and Ireland general insurance, commented: ”Bringing Probitas fully under the Aviva brand is the next step in building a truly integrated specialty business.

“We’ve already combined our teams and capabilities and are now seeing the benefits of trading as one platform. Aviva Syndicates will sharpen our presence in the Lloyd’s market and make it easier for brokers and clients to access the full strength of our underwriting, risk expertise and global reach.”

Growth opportunity

Aviva completed the acquisition of Probitas, including the tenancy rights to Syndicate 1492, on 10 July 2024 for £249m.

At the time, Storah told Insurance Times that the purchase presented Aviva with a “significant growth opportunity” through the ability to access the Lloyd’s market, international licences and broader distribution networks. 

Probitas then secured its “best ever” financial result in 2024, reporting an undiscounted net combined operating ratio (NCOR) of 77.9% for the year and a UK GAAP pre-tax profit of £62m, which represents a 17% increase on 2023.

Since the acquisition, Probitas also introduced new lines of business, including marine, construction and renewable energy.

And, back in February, Aviva also restructured the leadership of its GCS leadership team when GCS and Probitas chief executive Matt Washington exited the business, with Storah taking on interim responsibility for Probitas and Antony Dodson, GCS chief underwriting officer taking on expanded accountability for underwriting performance and portfolio profitability across Aviva and Lloyd’s.

Matt Gordon was also appointed as GCS chief commercial director at the time.