Two new Lloyd’s captive syndicates get green light for 2027 launch
Two new captive syndicates are set to enter the Lloyd’s market next year, according to Argenta Private Capital.
Argenta Private Capital managing director Robert Flach and executive director Kate Tongue told Captive Review at the Rendez-Vous de Septembre in Monte Carlo that the two captive syndicates have now been given the go-ahead, and will both initially write premium of around $30-$40 million.
Tongue explained the timing of the launches would not need to be aligned with renewal dates as they would be able to transfer into the syndicates their existing books. However, she expects them both to launch around the start of April next year.
“We will set up its corporate member for them, talk through how to get the capital in, how it needs to be managed, do all the administration to try and take the pain away from that process,” Flach added on Argenta’s role.
“That’s our only involvement really because there’s enough to do just with setting up the captive syndicate and getting through everything on the management side.”
The developments follow the establishment of Lloyd’s first captive syndicate, widely reported to be owned by Google, formed under its revised captive syndicate model in June 2024. Syndicate 1100 is managed by Apollo Syndicate Management and was the first captive syndicate to launch in more than 20 years.
Despite some expectations the launch could open the floodgates to more formations, amid over 100 expressions of interest shown in the newly repurposed Lloyd’s captive proposition, no other captive syndicates have since launched.
“We’ve looked at four or five over the last few years and only have one that’s in, and now two have been given the go-ahead,” Flach said, adding that the Lloyd’s capital infrastructure was a big part of the appeal for these prospects.
“It’s taken Lloyd’s a while to advertise and get over some of the issues but it feels like they are there. It would be nice if that ballooned, because I think it is a good thing for Lloyd’s, captives and insurers.”
One of the new syndicates has been speaking with Argenta about the proposition for years, while the other was said by Tongue to be “quite new to us.”
Tongue added how at least one of the new syndicates had sought to learn from the first captive’s experience so far.
“They’re talking to the brokers and the managing agents that looked after the first syndicate and getting the experience that way,” she said.
Despite writing a relatively small amount of premium for Lloyd’s she said they both had great “growth aspirations.”
Captive Review reported earlier this year in its World Domicile Update how the first captive syndicate at Lloyd’s wrote around €31 million of premium in 2025, up from €23 million in 2024.
“Captives are quite different, there is a different fee structure, so they’re able to do it at slightly smaller levels,” Tongue added.
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