Carbon 4747 at Lloyd’s targets 36% GWP surge in 2024
Lloyd’s syndicate and specialist managing general underwriter (MGU) Carbon Underwriting expects its gross written premium to increase by 36 percent next year as it targets growth across a number of new product lines and geographies.
Carbon has secured a formal approval from Lloyd's for a significant increase in its stamp capacity for 2024.
It expects Syndicate 4747’s gross written premium to increase from £150 million in 2023 to an expected £204 million in 2024.
“We fully intend to continue to deliver outstanding results, and the green light for our 2024 business plan from Lloyd’s for Syndicate 4747 is confirmation of our confidence and stability,” said Carbon CEO Nick Tye.
“This year we welcomed fresh investment backing through our partnership with Apiary Capital, which represents a significant acceleration opportunity for us. As a team, we share a vision and we succeed as one.”
Tye noted: “Backed by a shared vision and a highly motivated team, we have been on a remarkable growth journey, and the approval of our 2024 business plan sets the stage for an exciting next phase. Carbon is transforming the delegating underwriting world by implementing in-house technology that supports best-in-class underwriting, and we have proudly assembled 51 incredible team members that in my view set the benchmark for all of the syndicates in Lloyd’s.”
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