Independent managing general underwriter Carbon Underwriting Limited, the name behind Lloyd’s Syndicate CBN 4747, has been granted in-principle approval for next year’s launch of Syndicate 5757.
The green light is seen as a major step for Carbon, marking its second syndicate at Lloyd’s and expanding its reach to fulfil the company’s goal of becoming a leading figure in delegated authority business.
Syndicate 5757 will be a technology-driven initiative centred on Carbon’s proprietary ecosystem, Graphene. The new syndicate will exclusively target US programme business. Carbon said the plan is to foster innovation and deliver superior underwriting in this data-rich market by leveraging process and its Graphene technology.
Third-party managing agent Asta will manage Syndicate 5757. Asta also managed the launch of CBN 4747, one of the initial Lloyd’s syndicates-in-a-box. It was highlighted that the introduction of Syndicate 5757 reinforces Asta’s cost-effective managing agency model and its crucial role in providing a pathway into Lloyd’s for entrepreneurial underwriters.
Nick Tye (pictured), Carbon’s founder and chief executive, commented: “We are thrilled to receive ‘in-principle’ approval from Lloyd’s for Syndicate 5757. This is a significant development to our offering as we look to access the expansive US programme market.
“The US market’s size and scale is incredibly exciting, and our data-driven approach positions us as market leaders for portfolio underwriting in this territory. We can evidence that superior data drives superior insights, and we look forward to continuing to achieve market-leading underwriting results for both ourselves and our partners as we continue to grow.”
For Asta CEO Lorraine Harfitt, Carbon’s latest success underscores the strength of Asta’s partnership approach, both in launching new underwriting businesses and supporting their strategic growth initiatives.
“This approval of Syndicate 5757 as Carbon’s second syndicate at Lloyd’s is a testament to the Carbon team’s innovative vision,” Harfitt declared. “We are excited to continue our collaborative efforts and look forward to achieving even greater milestones together in the future.”
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