Carbon Underwriting targets significant premium growth in 2024
London: 28 November 2023 - Carbon Underwriting Limited ("Carbon"), the Lloyd's syndicate that prides itself on fair values, great culture, and best-in-class underwriting teams, is pleased to confirm its 2024 growth plans.
After delivering superior underwriting results for 2020, 2021 and 2022, Carbon is already exceeding agreed plans for 2023 and has now had formal approval from Lloyd's for a significant increase in its stamp capacity for 2024.
Carbon's 2024 business plan includes
Syndicate 4747's gross written premium will increase from GPB 150 million in 2023 to an expected GBP 204 million in 2024 across a growing number of new product lines and geographies to further support its international coverholder network.
Continuing to develop and build its leading data-driven Lloyd's property consortium spearheaded by Carbon's proprietary underwriting platform, Graphene, which continues to be successfully adopted by the market
Building out its talented team, which has grown from four in 2020 and now sits at 51 market-leading experts.
Carbon CEO Nick Tye said
"Backed by a shared vision and a highly motivated team, we have been on a remarkable growth journey, and the approval of our 2024 business plan sets the stage for an exciting next phase. Carbon is transforming the delegating underwriting world by implementing in-house technology that supports best-in-class underwriting, and we have proudly assembled 51 incredible team members that in my view set the benchmark for all of the syndicates in Lloyd's.
We fully intend to continue to deliver outstanding results, and the green light for our 2024 business plan from Lloyd's for Syndicate 4747 is confirmation of our confidence and stability. This year we welcomed fresh investment backing through our partnership with Apiary Capital, which represents a significant acceleration opportunity for us. As a team, we share a vision and we succeed as one."
Notes to Editors
About Carbon Underwriting
Carbon Underwriting Limited (Carbon), operates as Syndicate CBN 4747 at Lloyd's.
Carbon set out in 2018 with a mission to transform the world of delegated underwriting and with a vision to set a global benchmark. We are a dynamic company and recognise the importance of embracing modern technology to deeply enrich our offering. We have pioneered a game-changing, bespoke approach using an open underwriting model where data drives improved underwriting performance creating superior analysis and fluidity of portfolio management. This is administered through our in-house technology ecosystem, Graphene. For more information, please visit: www.carbonuw.com/
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