Agile Syndicate 2427 targets stamp of 63.5 million pounds for 2026 YoA

By Michael Jones

July 21 - (The Insurer) - Agile Syndicate 2427 is aiming to grow its stamp capacity by 41% to 63.5 million pounds ($85.4 million) for the 2026 year of account (YoA), active underwriter Mark Hunt told The Insurer.

Syndicate 2427 held a stamp capacity of 34 million pounds for the 2024 YoA and 45 million pounds for the 2025 YoA.

Due to its mid-year start, Hunt said Syndicate 2427's YoAs run from July to June. This means its 2025 YoA started on July 1, 2025, and will run until June 30, 2026.

Hunt said the 2026 YoA target was initially 65 million pounds, but currency movements against the Australian dollar mean it is now 63.5 million pounds.

Agile's syndicate filings show that it had grown its premiums to A$50 million ($32.6 million) through its operations as a Lloyd's coverholder at the time of the syndicate launch.

Asta-managed Syndicate 2427's 2024 results showed that up to December 31, 2024, it had written 8.52 million pounds in gross premium. This included contributions of 4.68 million pounds from aviation and 3.7 million from third-party business.

The split of aviation and third-party business does not reflect the syndicate's future business composition, with property set to take up a "big proportion".

Syndicate 2427 hired former Argenta Underwriting Australia regional underwriting director Richard Hardy as global head of property in January 2025.

Hunt said that there will be a "big spike" in property premiums associated with the second half of its 2024 YoA, which will be followed by modest growth in 2025 and 2026.

"We are not out there hunting for loads of new dollars. We have got that sugar hit, we have got the relationships, we have got positions on existing binders", Hunt said.

He said the syndicate's property book will largely focus on commercial mid-market business in Australia, with a conscious effort to avoid obvious natural catastrophe areas.

There are also opportunities to gently expand into the wider Asia Pacific region, Hunt said, including a small amount of business in New Zealand.

MODEST CASUALTY GROWTH

Hunt added that casualty and professional indemnity are also expected to grow modestly through 2025 and 2026.

The modest growth in casualty relative to the "spike" in its property business is reflective of the book having been with Agile since 2019. And while the growth looks set to be a little quicker than anticipated, it will be on a "much more gentle trajectory".

Agile CEO Robin Barham asserted that one key element of Agile's strategy across both casualty and property was not to compete with other Lloyd's players on competitive U.S. business.

"Most Lloyd's syndicates write a lot of U.S. business. So for investors in us and our capital providers, there's very little point in us being in the U.S. because they've got plenty of other syndicates they can invest in that have got mature books there," Barham said.