Allianz establishes a new reinsurance vehicle at Lloyd’s in a strategic partnership with Oaktree Capital Management, L.P.. The new entity, Syndicate 1890, begins underwriting from 1 January 2026, participating as a multi-year partner on Allianz’s outwards reinsurance programme. Oaktree is establishing and funding the new syndicate, and also acts as the investment manager for its assets. By leveraging the Lloyd’s platform through this partnership, Allianz secures multi-year, AA-rated capacity. The move positions Allianz to capitalise on the growing appetite of capital markets for insurance risks and access to third-party capital. Syndicate 1890 receives a share of the Allianz Group’s outwards reinsurance programmes, which represents a broad and highly diversified global portfolio. Thorsten Fromhold, Chief Group Reinsurance Officer, Allianz SE Reinsurance, says the partnership complements its existing relationships. “The launch of this Lloyd’s syndicate highlights the strength of the portfolio we are ceding and our consistent approach to reinsurance, which is an important contributor to Allianz’s resilience,” Mr Fromhold says. “Our multi-year agreement with Oaktree will complement our existing strong relationships with traditional reinsurers”. Chris Boehringer, Managing Director at Oaktree, highlights the structure's innovative nature. “We are excited to launch this innovative reinsurance syndicate together with Allianz, and within the Lloyd's ecosystem,” Mr Boehringer says. “We believe Syndicate 1890 is an important template for the convergence of alternative asset management and insurance, and will bring significant advantages to Allianz, Lloyd's, and Oaktree”. Dawn Miller, Lloyd's Chief Commercial Officer and CEO of Lloyd's Americas, adds that the choice of Lloyd's for the structure reflects the efficiency and flexibility of its platform. She notes that the structure enables innovative solutions through London Bridge 2.
