Dale Underwriting Partners, the trading name for Dale Managing Agency Ltd.’s Lloyd’s Syndicate 1729, and K2 Insu
rance Services, an independent MGA platform, have received “in principle” approval from Lloyd’s to launch Syndicate 1954.
Operating as a special purpose arrangement (SPA), the syndicate will be managed by Dale Managing Ag
ency Ltd. and hosted by Dale Syndicate 1729. It is expected to write £80 million of gross written premium in 2026, with 40% retained by Dale.
With K2 providing 20% of the underwriting capital of the SPA, over 50% of the gross portfolio is capitalized by fu
nds aligned to Dale and K2, reinforcing the partnership’s stability and long-term intent. The portfolio includes property, specialty, and casualty programs, and leverages K2’s
advanced underwriting analytics and Dale’s underwriting standards and risk appetite.
The SPA introduces 100% incremental premium to Lloyd’s, including new products not currently available in the ma
rket. The arrangement also leverages Lloyd’s global licenses, enabling broader distribution and product innovation across key territories.
“The launch of this SPA in partnership with K2 reflects a shared commitment to underwriting discipline and l
ong-term portfolio development,” said Ian Bridge, active underwriter, Dale Underwriting Partners, in a statement.
“This SPA reflects our broader ambitions to build high-quality partnerships that combine underwriting dis
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cipline with aligned and efficient capital,” according to Duncan Dale, chief executive, Dale Underwriting Partners. “It
also highlights our structuring and capital management capabilities which are central to how we will look to scale our business.
“Lloyd’s represents the ideal platform and environment for K2 to deploy our own risk capital alongside o
ur market-leading underwriting,” said Parth Patel, CUO of K2 Internation
al. “It allows us to further strengthen alignment with our capacity partners both longstanding and new and reinfo
rces our commitment to sustainable, performance-driven growth.”
Bob Kimmel, K2 Group CEO, added: “This partnership with Dale marks a significant strategic milestone in K2’s evolution, and ‘in-principle’
pproval from Lloyd’s is the ultimate validation of our underwriting quality and governance. Syndicate 1954 un
derscores our continued dedication to building an entrepreneurial, p
urpose-built platform that delivers exceptional value to all stakeholders.”
Howden Capital Markets & Advisory is acting as financial adviser to K2.