Niyam Group has received in-principle approval from Lloyd’s to establish Syndicate 2047, marking a significant milestone in the Group’s plan to bring disciplined reinsurance capacity to India and high growth markets in Asia and Africa.
Syndicate 2047 is aligned with Niyam’s purpose of building economic resilience and with Viksit Bharat 2047, India’s national vision to become a developed economy by the centenary of its independence. It will be the first Lloyd’s syndicate dedicated to supporting the Indian market.
Sima Ruparelia, President and Active Underwriter of Niyam Group, said: “Receiving in-principle approval from Lloyd’s is an important validation of our underwriting philosophy and long-term approach. We are focused on building a high-quality, sustainable syndicate that serves cedants and brokers, and supports market development, with consistency and discipline.”
Paul Andrews, CEO of PoloWorks said “Syndicate 2047 is a compelling and timely proposition. Niyam brings a clear underwriting vision, disciplined execution, and a strong commitment to supporting India and other high-growth markets. Lloyd’s in-principle approval is an endorsement of the team and the plan, and we are proud to manage the syndicate through the Lloyd’s market.”
Vicky Carter, Chairman - Global Capital Solutions, International at Guy Carpenter said: “India represents one of the most significant and exciting growth opportunities for the global reinsurance market. Niyam’s proposition of locally embedded leadership, combined with the capital and expertise of the Lloyd’s market, will unlock sustainable growth and strengthen market resilience. We are proud to be working with the Niyam team on this exciting venture.”
Bobby Swarup, Founder and CEO of Niyam Group, added: “I am grateful to Lloyd’s, our investor J.C. Flowers & Co. and their adviser Macquarie Capital, and to our partners, Guy Carpenter and PoloWorks, for their belief in Niyam and its purpose. This marks the beginning of our vision 2047, dedicated to serving India and high-growth markets.”
Syndicate 2047 will be managed by Polo Managing Agency and will work closely with Lloyd’s to complete the remaining regulatory, capital, and operational steps required ahead of the syndicate’s intended underwriting commencement on 1 April.
About Niyam Group (www.niyamgroup.com)
Niyam (नियम) is a Sanskrit word that signifies discipline and observance, a way of living with purpose and intention. Niyam Group embodies these principles as a purpose-led reinsurance group, focused on disciplined underwriting, long-term capital, and strengthening businesses to build economic resilience across India and high growth markets.