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Lloyd’s algorithmic digital follow platform Ki has completed the separation from its parent company to become a stand-alone entity within Fairfax Group, effective from 1 January 2025.
The news was first reported in December 2024.
Ki was launched by Brit in 2020 and began underwriting as Syndicate 1618 in 2021.
In 2024, the entity reported more than $1bn in gross written premium.
As an independent company, Ki will continue to focus on its aim of becoming a digital and data-driven specialty insurance business, while also helping to make Lloyd’s the most “efficient” marketplace for specialty insurance globally.
Asta Managing Agency has been named as its managing agent to support its independent operations.
The restructuring of corporate framework will not affect its interactions with brokers or its business operations, Ki stated.
In 2020, Fairfax Financial and funds managed by Blackstone Tactical Opportunities invested $500m to support Ki’s growth.
Both Blackstone and Fairfax will remain shareholders in Ki.
Ki CEO Mark Allan commented: “In the space of four years, we have seen real momentum build behind our business model and we have now reached the scale to become stand-alone.
“As Ki embarks on the next chapter of its growth, our autonomy, alongside the partnership with Asta, will enable us to focus on expanding our support of our partner brokers and accelerating the development of our algorithmic underwriting capabilities.
“As a stand-alone company within Fairfax, we will be even better placed to achieve our potential and we are excited by the opportunity to further innovate in our offering to brokers and clients in years to come.”
Asta CEO Lorraine Harfitt said: “Asta’s independent third-party platform allows us to focus exclusively on delivering for our clients, helping them achieve their strategic ambitions.
“Working with Ki on this significant transition to Asta hosting Syndicate 1618 underscores our commitment to fostering innovation and evolution in the market.”
"Lloyd’s syndicate Ki becomes stand-alone entity within Fairfax Group " was originally created and published by Life Insurance International, a GlobalData owned brand.
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