Dale Underwriting Partners, the trading name for Dale Managing Agency Limited’s Lloyd’s Syndicate 1729, and MGA platform K2 Insurance Services, have received ‘in principle’ approval from Lloyd’s to establish a new Special Purpose Arrangement (SPA), Syndicate 1954.
The portfolio spans Property, Specialty and Casualty programmes, and has reportedly been curated using K2’s advanced underwriting analytics alongside Dale’s underwriting standards and risk appetite.
“With K2 providing 20% of the underwriting capital of the SPA, over 50% of the gross portfolio is capitalised by funds aligned to Dale and K2, reinforcing the partnership’s stability and long-term intent,” Dale explained.
The SPA is said to introduce 100% incremental premium to Lloyd’s, including new products not currently available in the market.
“The arrangement also leverages Lloyd’s global licenses, enabling broader distribution and product innovation across key territories,” Dale added.
Ian Bridge, Active Underwriter, Dale Underwriting Partners, commented, “The launch of this SPA in partnership with K2 reflects a shared commitment to underwriting discipline and long-term portfolio development.
“This is a natural next step in our relationship and a clear example of our underwriting-first strategy in action. It allows us to deepen our reach into business lines where we have proven expertise, while supporting our long-term growth plans.”
Duncan Dale, Chief Executive, Dale Underwriting Partners, said, “This SPA reflects our broader ambitions to build high-quality partnerships that combine underwriting discipline with aligned and efficient capital.
“It also highlights our structuring and capital management capabilities, which are central to how we will look to scale our business.”
Parth Patel, CUO of K2 International, noted, “Lloyd’s represents the ideal platform and environment for K2 to deploy our own risk capital alongside our market-leading underwriting.
“It allows us to further strengthen alignment with our capacity partners, both longstanding and new and reinforces our commitment to sustainable, performance-driven growth.”
Bob Kimmel, K2 Group CEO, added, “This partnership with Dale marks a significant strategic milestone in K2’s evolution, and ‘in-principle’ approval from Lloyd’s is the ultimate validation of our underwriting quality and governance.
“Syndicate 1954 underscores our continued dedication to building an entrepreneurial, purpose-built platform that delivers exceptional value to all stakeholders.”
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