Apollo receives Lloyd’s approval for standalone Syndicate 1971

Apollo receives Lloyd’s approval for standalone Syndicate 1971 150 150 Haggie Partners

Apollo Syndicate Management (“Apollo”), the independent specialist insurer and reinsurer, today announces that following ‘in-principle’ approval in July 2021, it has now received Lloyd’s approval to establish and manage ibott syndicate 1971 for the 2022 year of account. It has also been granted Permission to Underwrite in accordance with the agreed business plan.

The ibott business was launched in January 2019 as a Lloyd’s Special Purpose Arrangement (SPA) and since then has specialised in servicing client solutions for innovative companies in the sharing economy through a collaborative and engaged underwriting, actuarial, and data science approach.

Matt Newman, Chief Strategy & Innovation Officer, said: “ibott’s services are seeing increasing demand, reflecting the evolving risk landscape. Becoming a standalone syndicate allows the ibott team, led by Chris Moore, to further enhance our innovative solutions for the global sharing economy. This marks an exciting opportunity for Apollo, our capital providers and our clients”.