Oak Global has secured Lloyd’s approval to launch Oak Partnerships, which will provide capacity to underwriting partners for multi-class insurance risk portfolios. The first risks will incept from 1st January 2027 and capacity for the new proposition will come from Oak Syndicate 1440.

Oak says the new venture will give clients access to Lloyd’s security, licensing and reputation and enable the business to squeeze more value from the group’s proprietary technology platform.

Elisabeth Groethe has been appointed as chief underwriting officer of Oak Partnerships and will also act as joint active underwriter of Syndicate 1440.

Cathal Carr, founder, CEO and group CUO of Oak Global, said: “Oak Partnerships is an exciting expansion of Oak Global’s offering to the market. It will bring our technology-enabled underwriting expertise to a new cohort of underwriting partners, offering Lloyd’s capacity for multi-class portfolios of profitable risk.

“For our capital providers, this will further diversify Oak Global’s offering by adding a lower volatility underwriting strategy and risk profile that is highly complementary to our existing reinsurance and retrocession portfolios.”