Santam Syndicate 1918, the new venture by South Africa’s largest short-term insurer, has been granted Lloyd’s final permission to underwrite for business incepting from 1 January 2026.

In July, Santam received in-principle approval to establish Santam Syndicate 1918, subject to meeting Lloyd’s prescribed start-up operational requirements. Over the past five months, Santam has focused on building the necessary foundations - appointing an experienced executive team, recruiting skilled professionals and ensuring operational.

Rob Vetch, a 30-year professional in the global (re)insurance market is the Chief Executive Officer (CEO) and Chief Financial Officer. Simon Clapham, with over 45 years of market experience, is Chief Underwriting Officer and Active Underwriter. Richard Weston, who has 25 years of experience in the London market, is the Chief Actuary and Chief Risk Officer. Carla Jordan, who has 25 years’ experience in reinsurance and insurance, is the Chief Engagement and Portfolio Officer.

The initial underwriting focus will include the following classes of business:

• Property – International and North America Open Market and Binders
• Marine
• Energy
• Political Violence and Terrorism
• Financial Institutions
• Professional Indemnity
• Cyber

The planned Gross Written Premium for 2026 is projected to be in excess of £300 million. Santam Syndicate 1918 is positioned to accelerate the Group’s international growth ambitions and diversification strategy.

Lloyd’s, as the world’s leading insurance marketplace, brings together participants offering specialist insurance solutions across more than 200 territories. Operating as a partially mutualised marketplace, Lloyd’s enables multiple members - through syndicates - to provide capital and underwrite insurance risks.

Tavaziva Madzinga, the Santam Group CEO, has welcomed Lloyd’s final approval. The initiative has also obtained all relevant regulatory approvals in South Africa.

“International growth and diversification is a key component of our FutureFit2030 strategy. Launching a Lloyd’s syndicate is the most efficient and scalable platform to pursue this business goal. Santam Syndicate 1918 is a major step in realising our international ambitions and transforming the Santam Group. We are excited to receive permission to underwrite and look forward to opening for business on 1 January 2026,” said Madzinga.