Home›Insurance›Reinsurance›Envelop Risk gets Lloyd’s approval to launch Syndicate…

Envelop Risk gets Lloyd’s approval to launch Syndicate 1925 in 2027

The new Lloyd’s syndicate will replace SPA 1925 and begin underwriting on January 1, 2027, with cyber treaty reinsurance as its core focus.

Reported · Written up by our desk · Reinsurance

Envelop Risk, a cyber reinsurance and analytics specialist, has received in-principle approval from Lloyd’s to launch Envelop Syndicate 1925.

The syndicate will transition from Special Purpose Arrangement SPA 1925 and is scheduled to begin underwriting on January 1, 2027. The company says the launch is built on SPA 1925’s track record at Lloyd’s, supported by Envelop’s use of data analytics and AI in cyber risk modelling, underwriting, and capital deployment.

Envelop said Syndicate 1925 will allow it to expand into additional business lines while keeping cyber treaty reinsurance as the core focus. It also plans to use the platform to selectively deploy capacity across complementary casualty and specialty lines.

Lloyd’s will be backed by Apollo Syndicate Management, part of Skyward Group, which will serve as managing agent. Chris Baddeley, who is Head of Cyber (London) and an active underwriter for SPA 1925, will take on the broader role of active underwriter for Syndicate 1925.

More like this

Sources