Global reinsurance company Oak Re has received permission for its Lloyd’s Syndicate 2843 to underwrite business beginning on 1 January 2025.
Oak Re is launching Syndicate 2843 in collaboration with blue chip capital providers, including Bain Capital and Hampden Agencies, the largest provider of private capital to Lloyd’s. In addition, Polo Managing Agency is providing turnkey services for Syndicate 2843.
Cathal Carr, CEO and founder of Oak Re, says: “Oak Re is the culmination of our vision to establish a leading global reinsurance franchise at Lloyd’s, driven by industry-leading talent, underpinned by cutting-edge risk insights, and backed by long-term investors.
“In an era of evolving risk, Lloyd's platform and its long-term vision fits perfectly with our ambition to support our clients with reinsurance solutions today, enhancing resilience for tomorrow.”
Patrick Tiernan, chief of markets at Lloyd's, adds: "The Oak Re syndicate shares our ambition to strengthen and extend the underwriting capability of the Lloyd’s market. Cathal and his team bring strong leadership and reinsurance expertise to Lloyd's, and we welcome Syndicate 2843 to the market.”
