Japanese investment bank Nomura is working with Lloyd's members' agency Soc Group to launch a new company to provide syndicates with additional capacity.
According to a report in The Daily Telegraph, the vehicle will be called Soc Insurance Fund (Socif) and will inject an additional £1.2bn of risks over the next three years.
It will be funded by private investors and bond money from asset-backed markets. Nomura will act as the arranger of the asset-backed bond.
Lloyd's chairman Sax Riley will be the non-executive chairman of Socif.
