MIC to become Syndicate 3456 coverholder

MIC Global (MIC) has announced that it intends to become a Lloyd’s

coverholder of Greenlight Re’s Syndicate 3456 (S3456) subject to

applicable approvals.

According to the company this strategic move marks a strengthening of

the partnership between MIC and Greenlight Re, building on their shared

focus on innovation within the Lloyd’s market.

MIC is focused on embedding micro insurance solutions for platform

businesses, while S3456 is specialised in delivering insurance products

through partnerships with leading InsurTechs.

Greenlight Re has been a strategic partner of MIC since its inception, and

this next step further solidifies this collaboration. Both parties aim to

leverage their collective expertise and resources to drive greater

innovation at Lloyd’s.

Jamie Crystal, chief executive of MIC, said: "We are excited about joining

forces with S3456. This allows us to build on our existing partnership and

to leverage the scale and resources that S3456 and Lloyd’s bring. We are

confident that this will enhance the value we can deliver to our clients and

business partners."

Pat O’Brien, chief executive of Greenlight Re Ireland, added: “We are

delighted to welcome MIC to S3456. We are confident that the combined

strength will create an even more dynamic and innovative hub within

Lloyd’s. The addition of MIC as a coverholder with S3456 will provide

substantial value and resources to both Greenlight Re and MIC, and we

look forward to building on this strong foundation.”

Lorraine Harfitt, chief executive of Asta, said: “The integration of S5183

with S3456 represents an exciting opportunity for GreenlightRe to further

strengthen the innovative capabilities of S3456. We look forward to

continuing to work with both entities, supporting their continued growth

and success at Lloyd’s.”

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