Independent managing general underwriter Carbon Underwriting Limited has secured principal approval from Lloyd’s for the launch of syndicate 5757, effective 1st January 2025. The new syndicate is based on a technology-first model and supports Carbon’s existing syndicate, 4747. Third party managing agent Asta will manage the new syndicate.

Nick Tye, founder of Carbon, said: “We are thrilled to receive ‘in-principle’ approval from Lloyd’s for syndicate 5757. This is a significant development to our offering as we look to access the expansive US programme market. The US market’s size and scale is incredibly exciting, and our data-driven approach positions us as market leaders for portfolio underwriting in this territory.”

Lorraine Harfitt, CEO of Asta, added: “Carbon’s latest success highlights the strength of Asta’s partnership approach, not just in launching new underwriting businesses, but also in our commitment to supporting our clients’ strategic growth initiatives.”