Reflecting on a Productive First Year: Syndicate 2427's Overview
Agile Underwriting Services, a leading player in the insurance industry, has made significant strides in its growth and expansion. The company has received 'in-principle' approval from Lloyd's to establish Syndicate 2427 (AUS 2427), subject to regulatory approvals.
The new syndicate, launched under Lloyd’s ‘syndicate-in-a-box’ framework in May 2024, has already completed its first year of underwriting with strong growth, expanded product lines, and increased broker engagement. The focus has been on SME and mid-market segments, particularly in Australia, where the syndicate's operations are anchored in Sydney, Melbourne, and Brisbane.
The syndicate has successfully expanded into the property and marine markets while maintaining a strategy to limit natural catastrophe exposure in property. This strategic approach has resulted in a growing pipeline for the second half of 2025 and the full-year 2026.
In line with its strategic expansion plans, Agile has established a presence in New Zealand, marking the first time a Lloyd's syndicate has set up shop in the country. This move is part of a broader international expansion model that includes the launch of new service companies in the UK and New Zealand.
The property book of Syndicate 2427 is developing well, built by an experienced team with a clear strategy to avoid natural catastrophe exposure. The syndicate's underwriting operations are managed by Davies-owned Asta.
Agile's expansion into New Zealand is further strengthened by the establishment of Agile Insurance Group NZ, a new entity that enhances its capability to service New Zealand business in general aviation, accident and health, casualty, and other lines.
Looking ahead, Agile plans to continue its sustainable growth, further product development, and ongoing underwriting into the second half of 2025 and full-year 2026. The 2026 year of account for Syndicate 2427 is currently under planning, with a focus on leveraging technology and people-led underwriting to maintain momentum across underserved APAC markets and beyond.
In summary, Agile’s Syndicate 2427 is positioned as a modern, digitally enabled Lloyd’s syndicate with a clear path to further international scaling and product diversification while maintaining a strong focus on SME and mid-market clients.
Growth - Steady growth in SME and mid-market segments - Strong utilisation in the first year - Growing pipeline into 2025 and 2026
Product Lines - Expanded beyond core SME to include property (with catastrophe risk control) and marine markets - Potential expansion to include lines of business in New Zealand
International Expansion - Operations anchored in Australia - Established service companies in the UK and New Zealand - Wider APAC regional reach - Leveraging Lloyd’s platform for global capacity
Underlying Strategy - Digital, regionally driven underwriting - Tech-first and people-led approach - Sustainable, smart underwriting focused on broker demand and underserved markets
- Agile Underwriting Services, having successfully completed its first year of operation with Syndicate 2427 under Lloyd's, plans to continue its growth in SME and mid-market segments with a steadily growing pipeline into 2025 and 2026, thanks to a strategic underwriting approach and expanding product lines, which currently include property and marine markets.
- As part of its broader international expansion model, Agile Underwriting Services has ventured into New Zealand by establishing Agile Insurance Group NZ, opening up opportunities for product lines such as general aviation, accident and health, casualty, and others, while maintaining a tech-first and people-led underwriting strategy that prioritizes underserved markets and leverages technology for ongoing growth.
