Probitas Ada Spa 2024 graduates to full Lloyd’s syndicate

Probitas Managing Agency has secured in principle approval from Lloyd’s to transition its Ada Spa 2024 into a full syndicate for the 2026 year of account.

The syndicate will continue to be managed by Probitas and led by managing director Natasha Jodrell, as well as chief underwriting officer and active underwriter James Grainger.

“We are delighted to start the next step on our journey trading as a full syndicate,” Jodrell said.

“We have a strong team, both in underwriting and claims, with leadership capabilities that allow us to trade through this challenging environment and deliver a profit across the cycle.”

The syndicate will continue building out a portfolio of marine and specialty business, expanding on the book it has underwritten on behalf of Probitas 1492 Syndicate during the 2024 and 2025 years of account.

Grainger added: “The team deserve much credit, having worked hard to achieve this next step towards an independent Lloyd’s business.”

Enablers

Probitas chief underwriting officer and active underwriter Antony Dodson said the group would maintain close collaboration with Ada and Lloyd’s as the initiative progresses through the “making it happen” phase.

He said: “We are delighted that Jodrell and the wider Ada team have reached this significant milestone.”

Jodrell also acknowledged support from the wider Probitas team, capital providers, reinsurers, consortium partners and Howden Re, which advised throughout the approval process.