HDI gets green light to begin underwriting through Syndicate 2029

HDI Global UK and Ireland has received permission from Lloyd’s to begin underwriting through Syndicate 2029 ahead of its formal launch next year. 

The approval means the syndicate can begin underwriting activities before business incepts on 1 January 2027.

Syndicate 2029 will write a portfolio of specialty and corporate insurance products through the Lloyd’s market, including credit and political risk, accident and health, political violence and terrorism, financial and professional lines, cyber and marine cargo.

Its portfolio will also cover fine art and specie, contingency, bloodstock, mining, digital solutions, medical malpractice and clinical trials.

HDI said the syndicate would complement its existing insurance platforms and international capabilities, while giving brokers and clients greater access to its specialist underwriting expertise through Lloyd’s.

Louise Radford, active underwriter for Syndicate 2029, will oversee its underwriting strategy, risk appetite and regulatory compliance.

She said: “The products in scope for Syndicate 2029 represent strategic growth areas for HDI, complementing our existing underwriting capabilities and giving clients and brokers greater choice and access to our specialist expertise through the Lloyd’s globally recognised marketplace.”

London market expansion

The syndicate will be launched and managed in partnership with PoloWorks, which will provide infrastructure and Lloyd’s market expertise.

Dawn Miller, Lloyd’s chief commercial officer and chief executive of Lloyd’s Americas, said HDI’s establishment of a syndicate represented a “strong endorsement” of the continued appeal of the Lloyd’s market.

She added: “It demonstrates the value of combining HDI’s scale and expertise with Lloyd’s specialist market, financial strength and international reach.”

Phil Smith, chief executive at Polo Managing Agency, added that the permission to underwrite represented an important milestone for the syndicate.

“We look forward to continuing our support for Radford and the wider HDI team once underwriting has commenced, helping Syndicate 2029 deliver its ambitions in the Lloyd’s market,” he said.