Lloyd’s has given Ariel Re in principle approval to establish Syndicate 2006, in addition to its existing Syndicate 1910. The new syndicate will write property catastrophe, other property, marine and speciality, cyber and clean energy business (trading as Ariel Green). Ariel Re said the new syndicate would begin quoting on risks from the beginning of December and that binding would be effective from 1st January 2026.

From the start of next year, Syndicate 1910 will only write property catastrophe business. The firm said this would align it to its ILS peer group in Bermuda.

Darren Lednor, managing director of Ariel Re Managing Agency, said: “We are excited to expand our presence in the Lloyd’s market with the launch of Syndicate 2006. Lloyd’s is fundamental to our strategy, and with this new syndicate, we are seeking to better appeal to the demands of our target capital base by offering differentiated investment products.”

“We are seeing strong interest from existing as well as potential new investors, and we expect Syndicate 2006 to be accretive to Ariel Re in 2026, and as the syndicate grows in 2027 and beyond.”