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HDI Global UK & Ireland wins in-principle approval for new Lloyd’s syndicate
The approval in principle lets HDI continue regulatory and operational steps toward permission to underwrite, expected in the coming months.
HDI Global UK & Ireland (HDI) said it has received approval in principle from Lloyd’s to establish a new Lloyd’s syndicate, a milestone in the firm’s Xcelerate29 growth strategy.
HDI said the in-principle nod is intended to clear the way for the remaining regulatory and operational stages needed before it can obtain permission to underwrite, which it expects will occur in the coming months.
The new syndicate is designed to complement HDI’s existing insurance platforms and global reach, giving clients and brokers access to Lloyd’s global licences, infrastructure, and market capabilities.
HDI added that the syndicate will be launched and managed in partnership with PoloWorks, and it noted the syndicate has been assigned number 2029 as part of its planned expansion.