HDI Global receives approval in principle for new Lloyd’s Syndicate

HDI Global UK and Ireland has received approval in principle to launch a new Lloyd’s syndicate, a move it hopes will “expand client and broker access” to its specialist underwriting expertise through the Lloyd’s market.

Syndicate 2029 – which will seek permission to underwrite over the coming months – will be launched and managed in partnership with insurance services provider PoloWorks, the “infrastructure and Lloyd’s market expertise” of which will “support its successful establishment and ongoing operation”.

The move forms part of the firm’s Xcelerate29 growth strategy, which aims to expand its product distribution at a global level. 

According to David Hullin, member of the HDI executive board, Lloyd’s “provides access to global opportunities, specialist expertise and international distribution capabilities that will help us further enhance the value we deliver to clients and brokers”.

“Together with our existing footprint, the syndicate will broaden access to our underwriting capabilities, support sustainable, profitable growth in a strategically important market and reinforce our role as a trusted partner in transformation,” he added.

Important milestone

Simon Hunt, chief executive at HDI Global UK and Ireland, said: “Receiving approval in principle from Lloyd’s is an important milestone for HDI and reflects the strength of our strategy, underwriting expertise and long-term commitment to the market.

“Lloyd’s is one of the world’s most respected insurance platforms and an important market for HDI. Establishing a syndicate will enable us to offer greater choice to clients and brokers, broaden our market reach and create additional opportunities for sustainable growth.

“While further steps remain before underwriting can commence, this approval represents a significant moment in our journey and we look forward to continuing our close collaboration with Lloyd’s, PoloWorks and our wider stakeholders.”