New syndicate secures in principle approval from Lloyd’s

Awbury Syndicate 2025 has been given in principle approval from Lloyd’s to commence underwriting from the start of next year.

The syndicate, which is belongs to specialty insurance group Awbury, will focus on credit risks and initially target new and existing European clients.

It will be managed by Polo Managing Agency, an independent Lloyd’s managing agent.

Awbury and Polo worked with a specialist team from PricewaterhouseCoopers (PwC) on the application.

’Attractive opportunity’

Alex Dubitsky, chief executive at Awbury Group, said he was ”looking forward to working with Polo and PwC, as well as the entire team at Lloyd’s, to build our place in the Lloyd’s market”.

He added: “We believe that our expertise and specialist knowledge in credit and financial risks, as well as our positive and decades long relationship with Lloyd’s through our various insurance businesses, makes for a uniquely attractive opportunity to work at Lloyd’s and utilise its innovative and universally respected and unique underwriting platform for the benefit of our clients and partners.”

Meanwhile, Andy Moore, PwC UK London market leader, said that Awbury’s entrance into the Lloyd’s market ”brings a highly-experienced management team with specialist knowledge in financial risks”.

He continued: ”We have been pleased to support Awbury throughout this process and look forward to working with Awbury and Polo through our PoloPartners joint venture as it builds a successful Lloyd’s business.”