London: 23 July 2024 – Carbon Underwriting Limited (Carbon), the specialist, independent managing general underwriter and Lloyd’s syndicate CBN 4747, is delighted to announce that Lloyd’s has granted in principle approval for the launch of Syndicate 5757, effective 1 January 2025. This marks a significant milestone as it represents Carbon’s second syndicate at Lloyd’s, and further expands its territorial footprint to further its ambition to become a global lead in delegated authority business.

Carbon Syndicate 5757 is a technology-first proposition built around its proprietary ecosystem, Graphene. The new syndicate will focus solely on US programme business. By leveraging process and its technology Graphene, Carbon aims to drive innovation and deliver high-quality underwriting in this dynamic and data-rich market.

Syndicate 5757 will be managed by Asta, the leading third-party managing agent at Lloyd’s, which was also responsible for the launch of CBN 4747, one of the first Lloyd’s syndicates-in-a-box (SIABs). The launch of Syndicate 5757 further endorses Asta’s cost-effective third-party managing agency model and its important role in supporting a route into Lloyd’s for entrepreneurial underwriters.

Carbon Founder and CEO Nick Tye said: “We are thrilled to receive ‘in-principle’ approval from Lloyd’s for Syndicate 5757. This is a significant development to our offering as we look to access the expansive US programme market. The US market’s size and scale is incredibly exciting, and our data-driven approach positions us as market leaders for portfolio underwriting in this territory. We can evidence that superior data drives superior insights, and we look forward to continuing to achieve market-leading underwriting results for both ourselves and our partners as we continue to grow.”

Lorraine Harfitt, Asta CEO, added: “Carbon’s latest success highlights the strength of Asta’s partnership approach, not just in launching new underwriting businesses, but also in our commitment to supporting our clients’ strategic growth initiatives. This approval of Syndicate 5757 as Carbon’s second syndicate at Lloyd’s is a testament to the Carbon team’s innovative vision. We are excited to continue our collaborative efforts and look forward to achieving even greater milestones together in the future.”