London headquartered insurance platform Apollo is expanding its presence in the re/insurance sector, with Director of Strategic Partner Syndicates Andy Gray and Chief Engagement Officer and Head of New Business Development, Matt Newman, sharing insights around the Rendez-Vous de Septembre in Monte Carlo about the company’s evolving strategy and approach to third-party syndicate management.
He added: “Our unique Apollo ecosystem provides our Platform Partners with the best probability of success, whilst providing opportunities to collaborate for mutual benefit. We are more than a turnkey. We are ‘Turnkey Plus.’”
Expanding on this, Gray provided some thoughts on the scope of Apollo’s offering: “Our platform includes so much more than pure managing agency services; our underwriting capabilities and innovative DNA, alongside our ability to provide reinsurance, capital and consortium solutions, creates a truly unique ecosystem for our Platform Partners to thrive.”
He also discussed the pipeline of potential partners: “We have a diverse and healthy pipeline of potential future Platform Partners, from specialist MGAs and re/insurance groups considering establishing syndicates or Special Purpose Arrangements to global conglomerates considering the captive syndicate model. We can support the complete lifecycle, from incubation within an existing Apollo Syndicate to SPA to full Syndicate.”
Gray stated that the fees generated from managing the syndicates create a source of revenue that is independent of the firm’s underwriting performance.
He additionally highlighted Apollo’s recent collaborations: “We seek long term partnerships with innovative, respected specialist businesses that increase the breadth and diversity of solutions available from Apollo. We believe that the value of a true partnership can be greater than the sum of its parts; and we aim for our partnerships to drive innovation at Lloyd’s.”
Gray provided specific examples: “Envelop Risk – now an SPA, having been incubated within Syndicate 1971 in 2023. ASR, NormanMax, Coface, Compre – full syndicates. Syndicate 1100 – captive syndicate. We also established the first captive syndicate in the new era of Lloyd’s with one of our existing long-term partners.”
Commenting on identifying strategic partners and capital providers, Newman explained: “Our Platform Partners each bring a different USP, product mix and distribution. Our approach has been to identify and engage with new opportunities that want a long-term partnership that leverages the opportunities created by our underwriting mindset and capabilities. We want our Platform Partners to benefit from our unique value proposition: we are an underwriting business first and foremost. We are ‘Turnkey Plus.’”
He emphasised Apollo’s underwriting expertise: “Apollo is an underwriting business at the core, so we have a deep understanding of risk, market dynamics, and the critical importance of a sound business plan. Our partners aren’t just investing in a syndicate; they’re investing in a highly experienced underwriting ecosystem.”
Gray reinforced this perspective: “This fundamental difference allows us to not only better understand the needs of our partners but also to provide opportunities that our competitors cannot. We can collaborate on products, provide reinsurance, capacity and consortia solutions; all of which help maximise the probability that our partners will achieve their growth targets.”
He added that Apollo gives partners access to a wide range of capital, allowing them to leverage Apollo’s extensive knowledge and relationships with global capital and reinsurance partners.
“Platform Partners can leverage our extensive knowledge and relationships with global capital and reinsurance partners. This could include different types of capital, such as institutional investors, private capital providers (e.g., individual or corporate members), and trade capital providers re/insurers. We want partners that also have a strong desire to grow their presence in the Lloyd’s market,” said Gray.
Newman also emphasised Apollo’s long-term commitment: “We position ourselves as a partner, not just a service provider. Our value lies in our commitment to strong, long-term relationships for mutual benefit. We are not just managing capital; we are building businesses together.
“Our message is simple: as Apollo, we combine underwriting excellence with an unparalleled understanding of the Lloyd’s market. We don’t just find a home for capital; we provide a strategic partnership that ensures it is deployed effectively and profitably. We are uniquely positioned to help partners unlock the full potential of underwriting growth at Lloyd’s.”
With the UK set to implement a new captive insurance regime by 2027, we asked Newman what role Apollo could play in that environment, helping new captive syndicates come to Lloyd’s.
“With the UK’s new captive insurance regime on track for 2027, organisations will have to investigate if the final details suit them to their requirements. That could be to either set up or transfer their existing captives to the UK. Irrespective, it is a really positive development for the UK and Lloyd’s, as it will make the UK a more accessible and attractive domicile for consideration.
“However, setting up a Lloyd’s captive syndicate and domiciling your captive in the UK are very separate topics and don’t really overlap.”
Newman added: “At Apollo, we are helping to upgrade and evolve the traditional captive model by offering to host captive syndicates. We were the first managing agency to bring a captive syndicate to Lloyd’s under its revised model. This isn’t just a recent development for us, it’s been part of our DNA for a few years, developing the environment with potential partners to make sure it was fit for purpose.”
On the flexibility of Apollo’s captive offerings, he said: “Our captive offering can either be a standalone captive syndicate or part of a larger multi-territory captive which may or may not include a UK based captives, hence the UK’s captive regime is really unrelated.
“We feel passionately that we have a unique and deep understanding of how to manage a captive syndicate at Lloyd’s, and how to maximise the benefits and integration within our clients existing captive structure. It doesn’t have to be disruptive to the parent company at all, which is an important thing to mention.”
Newman then highlighted the advantages of Lloyd’s captive syndicates: “A captive syndicate at Lloyd’s offers significant advantages. It’s a ready-made, robust platform allowing access to the Lloyd’s global licenses and its very strong financial rating. This can significantly reduce or even eliminate the need for expensive and complex fronting arrangements and make use of an efficient capital model.”
Newman added that their strong expertise in underwriting sets them apart. They help clients navigate the complex Syndicate Business Forecast process, which is essential for launching a new syndicate at Lloyd’s, while also offering extensive underwriting experience. This support allows their partners to create business plans that are well-structured, persuasive, and realistic.
To end, he emphasised Apollo’s strategic role: “We go beyond simply managing these captive syndicates, we act as their strategic partner, providing expert advice on capital investigations and helping organisations structure their captive to be as efficient and effective as possible.
“We are only focused on long-term, collaborative relationships that create mutual benefit, helping our partners unlock the full potential of their first and related third party risk appetite. We really feel that we are unique, and our value proposition lies in our history and expertise. We are not just a managing agency; we’re on a mission to spread the captive syndicate word.
“We don’t just facilitate a transaction; we build long-term relationships based on mutual success.”
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