Risk partner secures regulatory approval to underwrite business

Risk partner Oak Global has received permission to underwrite from Lloyd’s for Syndicate 1440. 

The new syndicate will operate as the strategic business unit Oak Enterprise and provide property and specialty retrocession capacity to clients for business incepting from 1 January 2026. 

Syndicate 1440 will also support retro clients through risk expertise and solutions while providing investors with access to the retrocession market through the Lloyd’s capital framework.

Deepon Sen Gupta, head of capital partnerships at Oak Global, said: “We are delighted to have secured investment from a broad spectrum of long-term capital providers, across traditional Lloyd’s names, trade partners and institutional investors including Bain Capital.

”Their commitment recognises Oak Enterprise’s excellent origination and retro underwriting capabilities and unique offering within the Lloyd’s marketplace.”

Leader

Oak Enterprise will be led by Roland Morse, chief underwriting officer. He will report to founder, chief executive and group chief underwriting officer at Oak Global Cathal Carr.

Morse said: “We are excited to officially launch Oak Enterprise.

”Since announcing ‘in-principle’ approval in September, we’ve had a strong reception from the market, with prospective clients and brokers communicating that they welcome the additional long-term retro capacity and leadership reinforced by highly-rated Lloyd’s security.”