Ariel Re Managing Agency gains Lloyd’s approval for Syndicate 2006

Core Viewpoint - Ariel Re Managing Agency has received Lloyd's approval to establish and manage Syndicate 2006, which will underwrite business for the 2026 year of account, focusing on specialty and property reinsurance lines [1][3]. Group 1: Syndicate Formation and Business Plan - Syndicate 2006 is authorized to underwrite both specialty and property reinsurance lines, following the approval of its business plan and economic capital assessment by Lloyd's Capital & Planning Group [1]. - The syndicate will maintain a diversified portfolio that includes property catastrophe, other property, marine, specialty, cyber, and clean energy classes, with the clean energy segment branded as Ariel Green [4]. Group 2: Operational Strategy and Growth - Ariel Re plans to leverage its expertise in marine, energy, cyber, transition, and renewables as part of its growth strategy [2]. - Starting in 2026, Ariel Re will operate two separate syndicates: the established Syndicate 1910, which will focus exclusively on property catastrophe reinsurance, and the newly created Syndicate 2006 [3][4]. Group 3: Recent Developments - In April 2023, Ariel Re appointed Rohan Pai as chief financial officer to oversee financial reporting and treasury functions [5]. - The company has also implemented Phinsys' finance and accounting solutions to streamline its operational and financial tasks [6].