About Munich Re Syndicate Limited (Syndicate 457 at Lloyd’s)
The Syndicate started life in 1977 and by 1990 had become known as the Watkins Syndicate. Over the years the Syndicate has been innovative in developing its business and was an early adopter of the concept of service companies. This allowed it to place its people closer to clients. Greater communication on a local level strengthens our ability to meet unique underwriting needs and deliver solutions to provide clients with a competitive edge. In 1997 the Syndicate was acquired by Munich Re Group, with the appeal being its reputation, leading position and its underwriting platform through Lloyd’s and its service companies. Munich Re’s capital backing and the financial strength this brought to the Syndicate further enhanced its positioning and underpinned its organisational growth in the years that followed. It is now one of the leading marine and specialty underwriters at Lloyd’s, and it is known for its all-round professionalism and the quality of its service.
The stability of Munich Re Syndicate Limited is evidenced by the fact that when it was founded approximately 400 syndicates (underwriters at Lloyd’s) existed, whereas today there are fewer than 100. The perseverance to stay focused on niche segments and to continuously fine-tune its expertise places the Syndicate and the network of service companies in a category of their own.
The growth and stability of its core market have established the Syndicate as strategic within Munich Re’s overall business and led to the Syndicate being rebranded from 1 January 2016 as Munich Re Syndicate Limited.
The experience and motivation to deliver innovative and reliable solutions to our clients is part of who we are and forms part of our core values.