Ki, the algorithmic Lloyd’s digital follow platform, has confirmed the completion of its separation from its parent company, becoming a standalone entity effective from January 1.
Launched in 2020, Ki began operations through Syndicate 1618 in 2021 and has since established itself as an algorithmic underwriting platform, offering follow capacity from an increasing number of syndicates. In 2024, Ki reported over $1 billion in gross written premiums.
The company has appointed Asta Managing Agency Limited as its managing agent. The change in corporate structure will not affect how brokers interact with Ki or its underwriting appetite across business classes, it insisted.
Ki’s shareholders, Fairfax Financial Holdings Limited and funds managed by Blackstone Tactical Opportunities, which initially committed $500 million in capital in 2020, will continue their support as the company transitions.
Ki chief executive officer Mark Allan said that the startup has seen real momentum behind its business model in the four years it has been in existence and has now reached the scale to become a standalone company.
“As Ki embarks on the next chapter of its growth, our autonomy, alongside the partnership with Asta, will enable us to focus on expanding our support of our partner brokers and accelerating the development of our algorithmic underwriting capabilities,” he said.
“As a standalone company within Fairfax, we will be even better placed to achieve our potential and we are excited by the opportunity to further innovate in our offering to brokers and clients in years to come,” Allan added.
Meanwhile, Lorraine Harfitt, CEO of Asta, said: “Working with Ki on this significant transition to Asta hosting Syndicate 1618 underscores our commitment to fostering innovation and evolution in the market. We look forward to continuing our work with the Ki team through 2025 and beyond.”
What do you think of the Ki story so far and its transition? Leave a comment below.
