With plans to expand its marine and specialty lines portfolio, the AdA Syndicate will operate as a full Lloyd’s syndicate beginning in 2026, building on underwriting carried out on behalf of Probitas 1492 for the 2024 and 2025 years of account.
Probitas Managing Agency confirmed the move following in-principle approval from Lloyd’s. The syndicate will remain under the management of Probitas and continue to be led by Natasha Jodrell, managing director of AdA Underwriters, and James Grainger, chief underwriting officer and active underwriter.
Jodrell said the transition is the next step for the syndicate, adding that the underwriting and claims team will continue to operate across the cycle and aim to deliver profit. The team plans to build on its current portfolio within marine and specialty business classes.
“We have a strong team, both in underwriting and claims, with leadership capabilities which allows us to trade through this challenging environment and deliver a profit across the cycle,” said Jodrell.
Grainger acknowledged the effort by the AdA team, stating the development brings the group closer to becoming an independent Lloyd’s business. “The team deserve much credit, having worked hard to achieve this next step towards an independent Lloyd’s business.”
According to Probitas CUO and active underwriter Antony Dodson, the organisation will continue working with the AdA team and Lloyd’s as the syndicate moves into the “Making It Happen” phase.
Jodrell also referred to the involvement of the wider Probitas group and external partners, naming capital providers, reinsurers, consortium partners and Howden Re as advisers throughout the process.
The AdA Syndicate currently operates under the structure of a Special Purpose Arrangement (SPA) but will transition to full syndicate status for the 2026 year of account.
Probitas Syndicate 1492, under which AdA has been writing business, operates across UK and international property, casualty, financial lines, construction and cyber. The firm maintains offices in London, Manchester, Mexico, Brussels, Sydney and Toronto.
What is your view on the AdA Syndicate’s upcoming shift to full Lloyd’s status? Will this influence future syndicate formations? Share your thoughts in the comments.
