Ki, the Lloyd’s digital follow platform, announced it completed the separation from its parent company, Fairfax Group, becoming a standalone subsidiary on Jan. 1, 2025.
Ki was created in 2020 and started writing business through its Syndicate 1618 in 2021. Since then, it has grown and evolved significantly to become an algorithmic underwriting platform offering follow capacity from a growing number of syndicates, with over $1 billion of gross written premium written in 2024.
Ki has appointed Asta Managing Agency Ltd. as managing agent, providing Ki with expert support in this critical role for the business.
Digital Lloyd’s Syndicate Ki to Become Standalone Business Within Fairfax Group
The change to corporate structure and operations (which was first announced in December 2024) will not affect how brokers trade with Ki or its appetite in any class of business, Ki explained.
Fairfax Financial Holdings Ltd. and funds managed by Blackstone Tactical Opportunities committed $500 million of capital in 2020 to support Ki and enable the business to grow rapidly to significant scale. Blackstone and Fairfax will continue as Ki’s shareholders.
“Ki has become one of the most successful insurtech start-ups in our sector. In the space of four years, we have seen real momentum build behind our business model and we have now reached the scale to become standalone,” commented Mark Allan, CEO of Ki, in a statement.
“We have helped brokers and clients seamlessly place complex specialty business at Lloyd’s with our market-leading platform,” he added. “As Ki embarks on the next chapter of its growth, our autonomy, alongside the partnership with Asta, will enable us to focus on expanding our support of our partner brokers and accelerating the development of our algorithmic underwriting capabilities.”
“Working with Ki on this significant transition to Asta hosting Syndicate 1618 underscores our commitment to fostering innovation and evolution in the market. We look forward to continuing our work with the Ki team through 2025 and beyond,” according to Lorraine Harfitt, CEO of Asta, the third party Lloyd’s managing agent.
Source: Ki
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Excess Surplus
Lloyd’s
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