Hamilton, Bermuda—December 10, 2024—Somers Group Holdings Ltd. (Somers), a global specialty property and casualty reinsurance group with operations in Bermuda, the U.S., the UK and Europe, today announces its wholly owned subsidiary Lime Syndicate Management Limited (Lime) has received all necessary regulatory approvals to operate as a Lloyd’s Managing Agent.
Lime was born out of a desire to provide a cost-effective, efficient and technology-led managing agency. Lime’s mission is to provide support and guidance to a newly formed syndicate at Lloyd’s for Somers, and to provide Somers with opportunities to expand its operating footprint via Lloyd’s.
Lime’s first syndicate under management will be Somers 3705 which will commence underwriting on 1 January 2025 and will be focussed on delegated authority and consortium opportunities. Somers 3705 will broaden Somers’s existing distribution channels and territories, leveraging both Lloyd’s reputation as a pre-eminent global marketplace with its substantial flow of business and Somers’s integral relationship with Arch Re, a leading diversified reinsurer.
Liz Cunningham, CEO of Somers said, “We are glad to support Lime in this endeavour, and the opportunity that the new Lloyd’s platform offers to Somers. We look forward to the growth of the Somers syndicate and broadening of our global platform via Lloyd’s”
David Reeves, CEO of Lime said, “We are delighted to have put together a strong team with a sophisticated and technologically advanced product. Our real work starts now to make Lime into a leading managing agency in the Lloyd’s market.”
About Somers Group Holdings Ltd.
Somers Group Holdings Ltd. is a privately held, global specialty property and casualty insurance and reinsurance company headquartered in Bermuda that is owned by Arch Capital Group Ltd., Kelso & Company and Warburg Pincus. Somers Re Ltd., the group’s flagship reinsurer, is focused on delivering flexible, creative solutions to clients worldwide. U.S. clients are served by Watford Specialty Insurance Company and Watford Insurance company. UK business is underwritten by Watford Insurance Company Limited. Europe/EU-based business is underwritten by Axeria IARD. For more information, please visit www.somersgroup.com.
