Dale Underwriting Partners, the trading name for Dale Managing Agency Ltd.’s Lloyd’s Syndicate 1729, a
nd K2 Insurance 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
Agency 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 b
y funds aligned to Dale and K2, reinforcing the partnership’s stability and long-term intent. The portfolio in
cludes property, specialty, and casualty programs, and leverages K2’s advanced underwriting analytics an
d Dale’s underwriting standards and risk appetite.
The SPA introduces 100% incremental premium to Lloyd’s, including new products not currently available in the m
arket. The arrangement also leverages Lloyd’s global licenses, enablin
g 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
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long-term portfolio development,” said Ian Bridge, active underwriter, Dale U
nderwriting Partners, in a statement.
“This SPA reflects our broader ambitions to build high-quality partners
hips that combine underwriting discipline with aligned and efficient capital,” acc
ording to Duncan Dale, chief executive, Dale Underwriting Partners. “It also highlights our structuring and capit
al 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 International. “It allows us to further strengthen alig
nment with our capacity partners both longstanding and new and reinforces our commitment to s
ustainable, performance-driven growth.”
Bob Kimmel, K2 Group CEO, added: “This partnership with Dale marks a significant strategic mil
estone in K2’s evolution, and ‘in-principle’ approval from Llo
yd’s is the ultimate validation of our underwriting quality and governance. Syndicate 1954 underscores
our continued dedication to building an entrepreneurial, purpose-built platform that delivers exceptional valu
e to all stakeholders.”
Howden Capital Markets & Advisory is acting as financial adviser to K2.