7th September 2022

Carbon Underwriting progresses to full Lloyd’s Syndicate

Carbon Underwriting Limited (Carbon), the specialist, independent managing general underwriter(MGU) and Lloyd’s syndicate-in-a-box (SIAB), has announced that it has received ‘in principle’ approval from Lloyd’s to become a full Lloyd’s syndicate with effect from 1st January 2023.
Carbon Syndicate 4747, which operates as an underwriting and market lead with a focus on Coverholder partnerships in the global property and casualty sector, began underwriting as a SIAB on 1st July 2020, with the support of third-party managing agent Asta.
The success of the SIAB model has allowed Carbon to develop a highly targeted, efficient and profitable model that focuses on high quality, data-driven underwriting, while providing access to the Lloyd’s franchise, international licensing and rating.
The transition to full syndicate will allow Carbon to continue to pursue high quality, global Coverholder business supported by additional classes and the evolution is expected to bring a gross written premium of £135m for 2023, subject to Lloyd’s agreement.
Nick Tye, Carbon ceo, said “We are thrilled to become the first Lloyd’s syndicate-in-a-box to transition to full syndicate status. During the last two and a half years, we have attracted new A-rated capacity providers, and have expanded our highly talented team of underwriters, data analytic engineers, pricing analysts and claims managers. This next step is a milestone in our development and has been achieved with tremendous thanks to the Carbon team for their hard work–we look forward to a bright future of continued sustainable growth.”

Carbon Underwriting Trends(3 articles)