South African short-term insurer Santam’s Syndicate 1918 has secured Lloyd’s approval to commence underwriting from 1 January 2026.
The approval follows an in-principle licence granted in July and reflects the venture’s completion of all required operational procedures.
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In recent months, Santam has focused on establishing the syndicate’s core structure.
The company appointed Rob Vetch, who has 30 years of experience in global reinsurance, as CEO and chief financial officer (CFO) of Syndicate 1918.
Simon Clapham, with more than 45 years in the industry, takes the role of chief underwriting officer and active underwriter.
Richard Weston will serve as chief actuary and chief risk officer, bringing 25 years’ of London market experience.
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By GlobalDataCarla Jordan has been named chief engagement and portfolio officer. Jordan has 25 years of expertise in reinsurance and insurance.
Santam Syndicate 1918 will initially underwrite cyber classes, energy, financial institutions, marine, political violence and terrorism, professional indemnity and property.
Gross written premium is projected to exceed £300m ($396.43m) for 2026.
This move is part of Santam Group’s plans for international business development and diversification.
Lloyd’s operates as a partially mutualised insurance marketplace that brings together members through syndicates to provide capital and underwrite risks across more than 200 territories.
Santam Group CEO Tavaziva Madzinga said: “International growth and diversification is a key component of our FutureFit2030 strategy. Launching a Lloyd’s syndicate is the most efficient and scalable platform to pursue this business goal.
“Santam Syndicate 1918 is a major step in realising our international ambitions and transforming the Santam Group. We are excited to receive permission to underwrite and look forward to opening for business on 1 January 2026”
South African short-term insurer Santam recently finalised a purchase agreement with Sanlam Life Insurance for the acquisition of a 60% stake in NMS Insurance Services (NMSIS), the insurance division of MultiChoice Group (MCG).
NMSIS is a registered micro-insurer in South Africa authorised for both general and life insurance activities.
