London-based reinsurance powerhouse, OAK Re, has successfully obtained approval from Lloyd’s to amplify its 2025 business blueprint for Syndicate 2843, elevating its gross written premium to an impressive over $400 million. This strategic enhancement follows a robust performance in the first quarter of 2025, where OAK Re outstripped its own ambitious projections.
In a statement, Cathal Carr, the Chief Executive Officer and Founder of OAK Re, expressed immense satisfaction with the global market’s enthusiastic response and the high-caliber portfolio accumulated thus far. “We are immensely gratified by the positive reception and the exceptional quality of our underwritten portfolio, which underscores the compelling value proposition of OAK Re alongside the formidable strength of Lloyd’s,” Carr articulated. “We eagerly anticipate leveraging this momentum throughout 2025 in collaboration with our esteemed clients and brokers,” he added.
OAK Re’s Syndicate 2843 was authorized to commence underwriting operations starting January 1, 2025, subsequent to the in-principle approval conferred by Lloyd’s in September 2024. This syndicate was inaugurated with the partnership of distinguished capital backers, notably Bain Capital and Hampden Agencies, the preeminent contributor of private capital to Lloyd’s. Moreover, Polo Managing Agency is rendering turnkey services to support the syndicate’s operations.
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