For the first time, the International Group of P&I Clubs (IGPIA) has secured a private placement within Lloyd’s market, marking a significant shift in its global marine liabilities reinsurance strategy.

The largest of its kind in the marine liabilities sector, the $3.1 billion reinsurance program now includes a 5% placement written by The Fidelis Partnership through Lloyd’s Syndicate 3123.

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The Fidelis Partnership’s participation follows its 2023 milestone of becoming the first managing general underwriter/agent (MGU/A) to be granted counterparty approval by the IGPIA.

“We are delighted to be supporting the IGPIA on its prestigious reinsurance program and to be writing this business in the Lloyd’s market. The IGPIA is renowned for its rigorous assessment of carriers’ reputation, financial strength, and deep understanding of the underlying risks,” said Daniel O’Connell, active underwriter at The Fidelis Partnership Syndicate.

“This landmark placement is further testament to The Fidelis Partnership’s underwriting track record and to the high value placed by clients on the strong credit quality, marine insurance heritage and value-add represented by Lloyd’s.”

This deal also builds on the launch of The Fidelis Partnership Syndicate in 2024, which brought founder and CEO Richard Brindle back to the Lloyd’s market after a 26-year absence.

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