Reflecting on a Productive Initial Term: Syndicate 2427 Recaps Its First Active Year
In a significant milestone, Agile Underwriting Services' Syndicate 2427, launched under Lloyd's 'syndicate-in-a-box' framework in May 2024, has completed its first year with robust underwriting performance, product line expansion, and increased global broker engagement.
The syndicate, primarily focused on the Australian market, has shown disciplined growth focused on SME and mid-market segments. A strategic extension into property and marine insurance has been made, with a deliberate avoidance of natural catastrophe exposure. This approach has been instrumental in the syndicate's success and is a testament to its commitment to sustainable growth.
The property book of Syndicate 2427 is developing well, built by an experienced team with a clear strategy to avoid NAT CAT exposure. The syndicate operates with senior underwriters based in Sydney, Melbourne, and Brisbane to leverage local market insights, supported by Davies-owned Asta managing the syndicate.
Agile Underwriting Services Syndicate 2427 has received 'Permission to Underwrite' from Lloyd's, the final regulatory approval required to commence its underwriting business. This approval marks a significant step forward, paving the way for the syndicate's continued growth.
The syndicate's first year has been marked by key achievements. Strong underwriting results and disciplined growth since inception have been recorded. The syndicate has expanded into property and marine lines, increasing broker engagement worldwide via new service companies, and strategically basing senior underwriters in key Australian cities.
Moreover, Agile has converted its foundation MGA into a Lloyd’s Syndicate Service Company and launched new service companies in the UK and New Zealand, expanding its reach. Agile Underwriting Services Syndicate 2427's product lines now include property and marine, in addition to the SME and mid-market segments it already serves.
Planning for the 2026 year of account is underway, with continued emphasis on technology-enabled underwriting and sustainable growth. The syndicate has a growing pipeline for the second half of 2025 and the fiscal year 2026.
Agile Underwriting Services has also established a presence in New Zealand, the first of its kind for a Lloyd's syndicate. Agile Insurance Group NZ, a new entity by Agile Underwriting Services, enhances its capability to service New Zealand business in general aviation, accident and health, casualty, and other sectors.
As the 2026 year of account approaches, Agile Underwriting Services Syndicate 2427 continues to position itself as a dynamic growth platform within the Lloyd's market, demonstrating its commitment to delivering strong underwriting performance and strategic expansion.
[References] [1] Agile Underwriting Services. (2024). Press Release: Agile Underwriting Services Syndicate 2427 Launches under Lloyd's 'syndicate-in-a-box' Framework. Retrieved from https://www.agileunderwriting.com/news/agile-underwriting-services-syndicate-2427-launches-under-lloyds-syndicate-in-a-box-framework
[2] Lloyd's. (2024). Press Release: Agile Underwriting Services Receives 'Permission to Underwrite' for Agile Underwriting Services Syndicate 2427. Retrieved from https://www.lloyds.com/-/media/files/press-releases/agile-underwriting-services-receives-permission-to-underwrite-for-agile-underwriting-services-syndicate-2427.pdf
The first sentence: Agile Underwriting Services Syndicate 2427, following a successful first year, is expanding its finance sector involvement by delving into property and marine insurance lines, in addition to its existing business with SME and mid-market segments.
The second sentence: The syndicate's strategic approach to avoid natural catastrophe exposure, while establishing a presence in key Australian cities and internationally in New Zealand, is a testament to its commitment to sustainable growth and disciplined expansion within the global insurance market.
