Hampden Group announced the rebranding of Verto, its follow-only syndicate, to Hampden Risk Partners.
The rebrand better identifies the syndicate with the Hampden Group and focuses its purpose in terms of its relationships both with underwriting partners and capital support, Hampden said in a statement.
The rebranding of Syndicate 2689, under the direction of Chris Sharp since January 2022, also signifies an intention to change the business mix for the 2023 year of account. Hampden Risk Partners’ business plan for 2023 is directed towards single class consortia to deliver the syndicate’s strategy of providing targeted capacity to top performing lead underwriters in the Lloyd’s market, especially where third party capital does not have the opportunity to back syndicates or portfolios through traditional capital support channels.
As lead underwriters look to expand into a hard market, Hampden Risk Partners has identified significant demand for consortia partnerships where it can select and support a portfolio of syndicate opportunities in a non-competitive way by increasing lead line sizes, retaining business in the market and providing the ability to reduce market reinsurance spend.
This fully scalable model will continue to enhance the Lloyd’s brand, relevance and profitability by backing market leaders to deliver strong, sustainable returns to capital providers. The 2023 business plan for the Asta-managed syndicate has been approved with stamp capacity of £71.5 million.
“This rebranding is an important step for us as we reset and relaunch our strategy of partnering with outperforming teams in the Lloyd’s market,” commented Chris Sharp, active underwriter of Syndicate 2689. “The team at 2689 is proud to be part of the Hampden Group and this rebranding more closely aligns the syndicate’s offering with Hampden’s own history of superior customer service and risk selection.”