K2 and Dale receive in principle approval to establish new syndicate

Dale Underwriting Partners and K2 insurance services have received in principle approval from Lloyd’s to establish a new Special Purpose Arrangement (SPA), Syndicate 1954.

The SPA will be managed by Dale Managing Agency and hosted by Dale Syndicate 1729. It is expected to write £80m of gross written premium (GWP) in 2026, with 40% retained by Dale.

The portfolio includes property, specialty and casualty programmes and has been curated leveraging K2’s underwriting analytics and Dale’s underwriting standards and risk appetite.

With K2 providing 20% of the underwriting capital of the SPA, over 50% of the gross portfolio is capitalised by funds aligned to Dale and K2.

“The launch of this SPA in partnership with K2 reflects a shared commitment to underwriting discipline and long-term portfolio development,” said Ian Bridge, active underwriter at Dale Underwriting Partners.

“This is a natural next step in our relationship and a clear example of our underwriting-first strategy in action. It allows us to deepen our reach into business lines where we have proven expertise, while supporting our long-term growth plans.”

’Strategic milestone’

The SPA also introduces 100% incremental premium to Lloyd’s, including new products not currently available in the market.

The arrangement also leverages Lloyd’s global licenses, enabling broader distribution and product innovation across key territories.

“Lloyd’s represents the ideal platform and environment for K2 to deploy our own risk capital alongside our market-leading underwriting,” said Parth Patel, chief underwriting officer at K2 International.

“It allows us to further strengthen alignment with our capacity partners both longstanding and new and reinforces our commitment to sustainable, performance-driven growth.”

Bob Kimmel, K2 group chief executive, added, “This partnership with Dale marks a significant strategic milestone in K2’s evolution and ‘in-principle’ approval from Lloyd’s is the ultimate validation of our underwriting quality and governance.

”Syndicate 1954 underscores our continued dedication to building an entrepreneurial, purpose-built platform that delivers exceptional value to all stakeholders.”