South African insurer launching in the UK next month
Santam has received approval to launch a new syndicate in the UK from 1 January 2026.
Santam Syndicate 1918, a new venture for South Africa’s largest short-term insurer, has been granted final permission to underwrite for Lloyd’s commencing 1 January 2026.
Santam received in-principle approval to establish the syndicate in July, subject to meeting Lloyd’s prescribed start-up operational requirements.
Over the past five months, Santam has focused on building the necessary foundations, appointing an experienced executive team, recruiting skilled professionals and ensuring operational stability.
Rob Vetch is the CEO and CFO of the new company and comes with 30 years in the global (re)insurance market.
Simon Clapham, with over 45 years of market experience, is Chief Underwriting Officer and Active Underwriter.
Richard Weston, with 25 years of experience in the London market, serves as both the Chief Actuary and the Chief Risk Officer.
Carla Jordan, who has 25 years’ experience in reinsurance and insurance, is the Chief Engagement and Portfolio Officer.
The initial underwriting focus of the business will include the following classes of business:
- Property – International and North America Open Market and Binders
- Marine
- Energy
- Political Violence and Terrorism
- Financial Institutions
- Professional Indemnity
- Cyber
The planned Gross Written Premium for 2026 is expected to be in excess of £300 million (R6.8 billion).
Santam said that the Syndicate 1918 is positioned to accelerate the group’s international growth ambitions and diversification strategy.
Lloyd’s is the world’s leading insurance marketplace, and brings together participants offering specialist insurance products from over 200 territories.
Operating as a partially mutualised marketplace, Lloyd’s enables multiple members, through syndicates, to provide capital and underwrite insurance risks.
“International growth and diversification is a key component of our FutureFit2030 strategy,” said Tavaziva Madzinga, the Santam Group CEO.
“Launching a Lloyd’s syndicate is the most efficient and scalable platform to pursue this business goal. Santam Syndicate 1918 is a major step in realising our international ambitions and transforming the Santam Group.”
Correction made
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