Santam Syndicate 1918, a new venture by non-life insurer Santam Group, has received final approval from Lloyd’s to underwrite business from January 1, 2026.
The syndicate will leverage Santam Group’s expertise in the global specialty insurance market, with a focus on Southern African and international operations. Planned gross written premiums for 2026 are projected to exceed £300 million, positioning the syndicate to accelerate Santam’s international growth and diversification while introducing new offerings to Lloyd’s.
“International growth and diversification is a key component of our FutureFit2030 strategy. Launching a Lloyd’s syndicate is the most efficient and scalable platform to pursue this business goal. The Syndicate is a major step in realising our international ambitions and transforming the Santam Group,” said Tavaziva Madzinga, Santam Group chief executive officer.
An experienced executive team has been appointed ahead of business commencement. Rob Vetch (pictured, upper left), with 30 years of experience in the global reinsurance market, serves as chief executive officer and chief financial officer. Simon Clapham (pictured, upper right), who has more than 45 years of market experience, is chief underwriting officer and active underwriter. Richard Weston (pictured, lower left), with 25 years of London market experience, most recently at Brit, is chief actuary and chief risk officer. Carla Jordan (pictured, lower right), with 25 years’ experience in reinsurance and insurance, is chief engagement and portfolio officer. The company noted that additional senior underwriting appointments will be announced shortly.
Initial underwriting will focus on property, including international and North American open market and binder business, alongside marine, energy, political violence and terrorism, financial institutions, professional indemnity, and cyber classes.
“Beginning a business at Lloyd’s for Santam, South Africa’s leading insurer with more than 100 years of history across the group, is incredibly exciting. Our team is looking forward to being fully live from 1 January, collaborating closely with our international distribution brokers, creating new synergies with clients, bringing new business to London and adding value to all parts of the chain,” said Vetch.
Santam is South Africa’s leading general insurer with over 22% market share, representing more than 3m policyholders.
