OAK Global has secured permission from Lloyd’s to begin underwriting through its new Syndicate 1440, allowing the operation – known as OAK Enterprise – to write business from January 1, 2026.
The approval establishes OAK Enterprise as the group’s second strategic business unit, alongside OAK Reinsurance, which operates via Syndicate 2843 and provides primary reinsurance capacity. The new unit will focus on property and specialty retrocession, a segment closely tied to global reinsurance cycles and demand for high-grade capital protection.
Syndicate 1440 is expected to contribute additional capacity to the London market by supporting retrocession clients with technical risk expertise. The underwriting platform also offers investors access to retrocession business within the Lloyd’s capital structure.
“We are delighted to have secured investment from a broad spectrum of long-term capital providers, across traditional Lloyd’s names, trade partners and institutional investors, including Bain Capital,” said Deepon Sen Gupta, head of capital partnerships at OAK Global. “Their commitment recognises OAK Enterprise’s excellent origination and retro underwriting capabilities and unique offering within the Lloyd’s marketplace.”
The company noted that the syndicate will be led by chief underwriting officer Roland Morse, who will report to OAK Global founder, CEO and group CUO Cathal Carr.
“We are excited to officially launch OAK Enterprise,” Morse said. “Since announcing ‘in-principle’ approval in September, we’ve had a strong reception from the market, with prospective clients and brokers communicating that they welcome the additional long-term retro capacity and leadership reinforced by highly rated Lloyd’s security.”
Polo Managing Agency Ltd will act as the turnkey provider for Syndicate 1440.
The announcement comes as the wider Lloyd’s market has shown strong momentum in 2025. Lloyd’s reported its first-half results in September, with gross written premium rising to £32.5 billion, a 6.2% increase on the previous year, and a solvency coverage ratio of 206%.
