The Greenlight syndicate has appointed Ian Maguire as Active Underwriter, subject to regulatory approval, as it prepares to become a full Lloyd’s syndicate on January 1, 2027. Greenlight Capital Re announced the appointment on October 22, linking the leadership change to plans for a broader underwriting offering.
Key Takeaways
- Maguire’s appointment at Greenlight Innovation Syndicate 3456 is subject to regulatory approval.
- The syndicate is scheduled to move from Syndicate-in-a-Box status to a full Lloyd’s syndicate on January 1, 2027.
- Innovations business will remain its main focus, alongside planned expansion into more traditional underwriting.
Table of Contents
- Greenlight syndicate plans broader underwriting
- Maguire brings delegated-authority experience
- Conclusion
Greenlight syndicate plans broader underwriting
Syndicate 3456 began underwriting on April 1, 2022, as a Syndicate-in-a-Box supported by third-party managing agent Asta. It writes Greenlight Re Innovations business, focusing on Coverholder partnerships.
The move to full syndicate status is intended to support both innovative and more traditional Coverholder business. Greenlight Re said it anticipates strong growth in 2027, although that remains an expectation rather than a reported result.
Chief Executive Greg Richardson said Innovations business would remain the primary focus. Planned additions include more traditional delegated underwriting authority and consortia business, together with a limited amount of treaty reinsurance. He described Maguire’s appointment as part of the company’s investment in its Lloyd’s platform.
Maguire brings delegated-authority experience
Maguire has been assisting Syndicate 3456 as a consultant for the past six months, according to Richardson. He brings nearly 40 years of experience in the Lloyd’s and London insurance markets, including expertise in managing delegated-authority portfolios.
He previously served as Executive Director of Argenta Holdings and was Active Underwriter of Argenta Syndicate 2121 from 2011 to 2021. At Argenta, he managed the property direct and facultative account and oversaw the development of other, predominantly short-tail, business classes.
Before joining Argenta in 2004, Maguire was responsible for North American direct property facility business at Wellington Underwriting. In the announcement, he identified broadening Syndicate 3456’s underwriting appetite as an area where he intends to apply that experience.
Conclusion
The appointment supports Greenlight Re’s planned expansion of Syndicate 3456 while retaining its Innovations focus. Maguire’s appointment remains subject to regulatory approval, and the transition to full syndicate status is scheduled for January 2027.
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