Start-ups
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The Australian insurer is a major cat cedant and had hoped to set up a reinsurance syndicate. -
Existing facilities and carrier partners will be transferring from K2.
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The business was launched in July to focus on the smart-follow market.
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The syndicate aims to write £80mn of programme business in 2026.
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Longbrook Insurance will write multiple lines of business.
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The UK-based insurer’s Florida Re secured state regulatory approval in June.
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The ILS start-up was founded in January by Hanni Ali and Peter Dunlop.
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The syndicate is expected to write ~$300mn of business in 2026.
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The MGU’s second syndicate launch was delayed from January 2025.
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A Lloyd’s consortium led by Beat Syndicate 4242 backs the MGA.
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The European broker said a London wholesaler is the ‘missing piece’ of its strategy.
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West Hill Capital is the main investor in the capital raise.
