Awbury Syndicate 2025 receives ‘in principle’ approval from Lloyd’s to launch in January

Awbury Group and Polo Managing Agency Ltd. have announced that Lloyd’s has granted approval “in principle” for Awbury Syndicate 2025 to commence underwriting from 1 January 2025.

Awbury Syndicate 2025 focuses on credit risks and will initially target new and existing European clients, consisting mainly of global banks and asset managers. Awbury Syndicate 2025 will complement the activities of the Awbury Group, a specialist insurance and investment principal group. The group focuses on unique and non-traditional financial risks, currently offering insurance and reinsurance protection from Awbury Insurance Ltd., a Bermuda-domiciled multi-line insurer, and Awbury Insurance Co., a multi-line insurer domiciled in Delaware.

The syndicate will be led by Polo Managing Agency Ltd., the independent turnkey managing agent and a unit of PoloWorks.

Awbury and Polo worked with a team of specialists from PricewaterhouseCoopers (PwC) on the app.

“We believe that our experience and specialist knowledge of credit and financial risks, as well as our positive and decades-long relationship with Lloyd’s through our various insurance businesses, represent a uniquely attractive opportunity to work at Lloyd’s and utilize the innovation and its universal observance. and unique underwriting platform for the benefit of our customers and partners,” commented Alex Dubitsky, chief executive of the Awbury Group in a statement. “I look forward to working with Polo and PwC, as well as the whole team at Lloyd’s, to build our place in the Lloyd’s market.”

“Awbury is a sophisticated financial products group and will bring innovation and increased business to Lloyd’s,” according to Paul Andrews, CEO of PoloWorks and Polo Managing Agency (PMA).

“Polo will provide a full service offering, including agency management and administrative support,” Andrews added. “Combined with support from our PoloPartners association with PwC, this demonstrates Polo’s ability to provide a full service for unique syndicates looking to grow or start at Lloyd’s.”

“Awbury’s entry into the Lloyd’s market brings to the market a highly experienced management team with specialist knowledge of financial risk and demonstrates the attractiveness of the Lloyd’s platform and its unique position in the global specialist insurance landscape,” said Andy Moore, PwC UK London Market. Leader. “We have been delighted to support Awbury throughout this process and look forward to working with Awbury and Polo through our PoloPartners association as they build a successful Lloyd’s business.”

About Awbury and PoloWorks

Launched in 2010, Awbury offers bespoke reinsurance cover for complex financial risks – products used by companies, banks, insurers, asset managers and government entities.

Owned by legacy P/C solutions consolidator Marco Capital, PoloWorks is a Lloyd’s and London market insurance services business comprising four divisions: Polo Managing Agency (PMA), Polo Commercial Insurance Services (PCIS), Polo Insurance Managers ( PIM) and PoloPartners.

Source: Awbury Group and PoloWorks

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Lloyd’s Surplus