HDI gets Lloyd's approval for new London syndicate

HDI Global UK & Ireland has received approval in principle from Lloyd's to establish a new syndicate, extending the insurer's presence in the London market.

The approval allows HDI to complete the remaining regulatory and operational steps before it can begin underwriting through the syndicate. The new vehicle will sit alongside its existing insurance platforms and give clients and brokers access to Lloyd's licences and infrastructure.

The syndicate is part of HDI's Xcelerate29 growth strategy, which the group has described as a plan to expand distribution and broaden access to its specialist underwriting business. It has been assigned the number 2029, linking it to that strategy.

HDI will launch and manage the syndicate in partnership with PoloWorks, which will provide infrastructure and operational support for the platform's set-up and running.

The decision adds another entrant to the Lloyd's market as insurers continue to weigh the benefits of using the marketplace's international licences and central framework to reach clients in multiple jurisdictions. For HDI, it also deepens its commitment to London, a key centre for specialty insurance and reinsurance.

"Receiving approval in principle from Lloyd's is an important milestone for HDI Global UK & Ireland and reflects the strength of our strategy, underwriting expertise and long-term commitment to the market. Lloyd's is one of the world's most respected insurance platforms and an important market for HD," said Simon Hunt, Chief Executive Officer of HDI Global UK & Ireland, described the approval as a milestone for the business. 

Establishing a syndicate will enable us to offer greater choice to clients and brokers, broaden our market reach and create additional opportunities for sustainable growth. While further steps remain before underwriting can commence, this approval represents a significant moment in our journey and we look forward to continuing our close collaboration with Lloyd's, PoloWorks and our wider stakeholders," Hunt added. 

Growth plan

HDI is part of the Corporate & Specialty division of Talanx. It serves small and medium-sized businesses, industrial companies and corporate clients, operating through its own network in more than 200 countries and territories as well as through partners.

The group leads roughly 5,400 international programmes for multinational clients. In 2025, the Corporate & Specialty division generated about EUR 10.3 billion in gross insurance revenue under IFRS 17 and employed more than 5,500 people.

David Hullin, Member of the HDI Global SE Executive Board, linked the syndicate to the company's wider international ambitions.

"The approval in principle from Lloyd's represents an important strategic step for HDI Global. Expanding our presence in the Lloyd's market is fully aligned with our Xcelerate29 strategy and, fittingly, the syndicate has been assigned the number 2029, reflecting the ambitions that underpin our growth journey. Lloyd's provides access to global opportunities, specialist expertise and international distribution capabilities that will help us further enhance the value we deliver to clients and brokers. Together with our existing footprint, the syndicate will broaden access to our underwriting capabilities, support sustainable, profitable growth in a strategically important market and reinforce our role as a trusted Partner in Transformation," Hullin said. 

London foothold

The Lloyd's platform gives insurers a route into specialty lines and international distribution through a market structure that is distinct from conventional company-market operations. For carriers with an existing corporate insurance business, a syndicate can provide an additional channel for writing business that fits the Lloyd's model.

HDI said the new syndicate would complement, rather than replace, its existing platforms. That suggests the group intends to use Lloyd's as an additional distribution route for selected specialist risks while keeping its broader network in place.

PoloWorks, through Polo Managing Agency, has worked with HDI on the foundations for the launch. The partnership reflects a broader trend in the Lloyd's market, where newer entrants rely on specialist service providers to establish syndicates more quickly and navigate market processes.

Paul Andrews, Chief Executive Officer of PoloWorks and Polo Managing Agency, said preparations had already advanced to the launch stage.

"Receiving approval in principle from Lloyd's is an important milestone for HDI Global and a significant step towards the launch of its new syndicate. Through Polo Managing Agency, we have worked closely with the HDI team to establish the foundations for a successful Lloyd's platform. HDI brings strong underwriting expertise and clear ambitions for the market, and we look forward to continuing our partnership as the syndicate progresses towards launch," Andrews shared.