Allianz Commercial has set out plans to introduce ‘Allianz Commercial 1893’, a new direct underwriting syndicate operating at Lloyd’s.
Business operations are slated to begin on 1 January 2027, subject to final regulatory clearance, with in-principle approval from Lloyd’s already in place.
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Through the new vehicle, Allianz Commercial will secure increased access to facilities, chosen managing general agent (MGA) business, and speciality risks within Lloyd’s.
Allianz Commercial CEO Thomas Lillelund said: “The new syndicate will establish a long-term direct underwriting presence for Allianz Commercial in one of the world’s leading speciality markets. It will expand our access to specialist business and strengthen our ability to serve clients and brokers facing increasingly complex and international risks.”
The launch builds on the footprint of Allianz within the specialist arena, recognised as the sole insurance market of its variety and holding a long-standing international reputation as a centre for complex speciality insurance.
According to the company, Lloyd’s generates £57.9bn ($77.58bn) in gross written premium and accounts for approximately half of the total London market.
Lloyd’s chief commercial officer and Lloyd’s Americas CEO Dawn Miller added: “We are delighted to welcome this new Allianz syndicate to the Lloyd’s market. The decision to launch at Lloyd’s not only reflects our history of bringing together the world’s leading risk takers but is also a vote of confidence in the market’s unique advantages in servicing multinational, speciality, and complex risks at scale.”
The syndicate follows other recent initiatives across related group divisions.
In September, sister company Allianz Partners introduced Metaportal, a digital system that permits loyalty partners and banks to distribute and administer travel cover.
Customers are able to activate and oversee policies online, adjusting coverage to match their particular travel itineraries and individual requirements.
Also in September, Allianz Partners partnered with Waymo to develop claims, insurance, and vehicle safety research offerings supporting Waymo’s European expansion.
That initiative combined Waymo’s autonomous driving technology, the Waymo Driver, with the mobility support, vehicle safety research, and insurance capabilities of Allianz Partners.
