Generali Establishes Red Bridge 2031 at Lloyd’s
Generali Group is progressing towards the launch of Red Bridge 2031, a new Lloyd’s syndicate, following approval in principle from the Council of Lloyd’s. Apollo has been selected as managing agent, with Howden Re acting as Generali’s exclusive adviser on the transaction.
The new platform will provide Generali with a strategic route into the Lloyd’s market, with the insurer intending to cede a share of its reinsurance programmes to Red Bridge 2031. The move forms part of Generali’s longer-term approach to risk management under its “Lifetime Partner 27: Driving Excellence” strategic plan.
A new route into the Lloyd’s market
The establishment of Red Bridge 2031 also reflects the role Lloyd’s continues to play in bringing together specialist underwriting, risk transfer and capital.
Through its market structure and access to a broad investor base, the Lloyd’s platform can provide insurers with additional sources of capacity to support their longer-term growth ambitions.
Howden Re supported the transaction across the development of the reinsurance proposition, access to the Lloyd’s market, capital structuring and strategic advisory services. Its international, capital solutions and capital markets and advisory teams worked together on the transaction.
With Red Bridge 2031 now progressing towards launch, the transaction highlights the continued attractiveness of the Lloyd’s market to insurers seeking specialist capacity and access to a diverse capital base.
