Ki Syndicate 1618 Separates from Brit to Become Independent Company

Ki Syndicate 1618 has completed its separation from Brit to become a standalone company within the Fairfax group. Asta Managing Agency will manage the follow-form syndicate, which was launched in 2020 with a $500mn capital raise from Blackstone and Fairfax Financial. Ki reported a $1bn GWP in 2024 and a $94.9mn profit before tax in 2023. The syndicate's change in corporate structure and operations will not impact its appetite for any class of business.

The insurance industry continues to evolve, with digital transformation playing a significant role in shaping the future of underwriting. One of the most notable developments in this space is the separation of Ki Syndicate 1618 from Brit to become a standalone company within the Fairfax Group [1].

Initially launched in 2020 as a digital follow syndicate, Ki was incubated and supported by Brit. Over the past four years, the syndicate has experienced remarkable growth, with a reported $1 billion GWP (gross written premium) in 2024 [1]. This growth has led to the need for Ki to operate as a separate entity within the Fairfax Group while maintaining a close partnership with Brit as a nominated lead across all classes.

Ki's transformation into a standalone company is a testament to its success and the vision of both organizations. According to Martin Thompson, CEO of Brit Group, "The scale, sophistication, and growth potential of Ki make this a natural next step, enabling both companies to focus on their core strengths in 'lead' and 'follow' respectively" [1]. Mark Allan, CEO of Ki, echoed Thompson's sentiments, stating, "Becoming a standalone company is an important milestone for everyone at Ki and positions us to capitalize on the opportunities we have ahead of us" [1].

Despite the change in corporate structure and operations, Ki's appetite for various classes of business remains unchanged. The syndicate's digital-first approach and access to capacity from multiple Lloyd's syndicates make it an attractive option for brokers and clients alike.

Asta Managing Agency will now manage Ki Syndicate 1618, replacing Brit Syndicates Ltd. as the managing agent [1]. This transition is expected to further enhance Ki's capabilities and enable the company to continue its growth trajectory.

In conclusion, Ki Syndicate 1618's separation from Brit and its evolution into a standalone company within the Fairfax Group is an exciting development in the insurance industry. With a proven track record of success, a digital-first approach, and a strong partnership with Brit, Ki is well-positioned to capitalize on the opportunities in the market and continue its growth.

References:
[1] Insurance Journal. (2024, December 12). Brit, Ki to Operate as Standalone Companies in 2025. Retrieved from https://www.insurancejournal.com/news/international/2024/12/12/804590.htm