Apollo has received “in principle” approval from the Lloyd’s Council to establish Apollo ReShare Syndicate 1972, with plans to begin underwriting on Jan. 1, 2026.
The new syndicate will provide follow-only capacity on the outwards reinsurance programs for Apollo-managed syndicates.
Paul Sandi (pictured above), head of reinsurance at Apollo, will lead Syndicate 1972 as active underwriter. Sandi brings experience in reinsurance and is expected to guide the syndicate’s development and growth. The company said his market relationships and strategic approach will be central to the syndicate’s operations.
“The creation of a dedicated long-term reinsurer for our managed syndicates will greatly benefit our capital providers,” said Nick Jones, chief reinsurance officer. “Apollo ReShare offers highly rated capacity, creates efficiencies in reinsurance spend, reduces execution risk for core placements whilst supporting cycle management. Our future strategy will be to also offer Syndicate 1972 reinsurer support to our platform partner syndicates as part of our forward-thinking approach."
The announcement comes as Apollo prepares for a significant transition. Skyward Specialty Insurance Group has entered into a definitive agreement to acquire 100% of Apollo Group Holdings Limited for US$555 million, with the transaction expected to close in the first quarter of 2026.
The acquisition is projected to deliver double-digit adjusted operating earnings growth for Skyward Specialty and add more than US$1.5 billion in managed premium. Apollo’s CEO, David Ibeson, will continue to lead the business as part of Skyward Specialty following the completion of the deal.
In addition to the ReShare syndicate, Apollo has partnered with Coface to launch Syndicate 2546, a new short-term trade credit syndicate at Lloyd’s. The syndicate, which received in-principle approval and is expected to begin underwriting in 2025, will be managed by Apollo and offer AA-rated credit insurance solutions to a global client base.
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