Allianz today announced a strategic partnership with Oaktree Capital Management, L.P. (“Oaktree”). Oaktree will establish a new reinsurance syndicate at Lloyd’s, Syndicate 1890, which will begin underwriting from January 1, 2026, and will participate as a multi-year partner on Allianz’s outwards reinsurance program.
By partnering with Oaktree and leveraging the Lloyd’s platform, Allianz secures multi-year, AA-rated capacity. Syndicate 1890 positions Allianz to capitalize on the growing appetite of capital markets for insurance risks and access to third party capital. The Lloyd’s structure offers operational efficiencies and flexibility for future expansion, supporting Allianz’s continued growth and innovation in risk transfer. Oaktree brings significant expertise and a track record of investing in the insurance space, providing partners with both highly relevant experience and access to capital.
Syndicate 1890 will receive a share of the Allianz Group’s outwards reinsurance programs, representing a broad and highly diversified global portfolio. Oaktree will both fund the syndicate and act as investment manager for the syndicate’s assets.
Thorsten Fromhold, Chief Group Reinsurance Officer, Allianz SE Reinsurance, said: "Allianz's underwriting portfolio is marked by its quality and diversity, making it a strong candidate for strategic reinsurance partnerships. The launch of this Lloyd's syndicate highlights the strength of the portfolio we are ceding and our consistent approach to reinsurance, which is an important contributor to Allianz’s resilience. Our multi-year agreement with Oaktree will complement our existing strong relationships with traditional reinsurers. Leveraging the Lloyd's platform allows us to pursue tailored and innovative transactions that enhance these partnerships."
Chris Boehringer, Managing Director at Oaktree, said: “We are excited to launch this innovative reinsurance syndicate together with Allianz, and within the Lloyd’s ecosystem. We believe Syndicate 1890 is an important template for the convergence of alternative asset management and insurance, and will bring significant advantages to Allianz, Lloyd’s, and Oaktree. We look forward to building this multi-year partnership with Allianz, which showcases both the attractiveness of the Allianz portfolio and Oaktree’s investment expertise and innovative approach to investing in insurance.”
Dawn Miller, Lloyd’s Chief Commercial Officer and CEO of Lloyd’s Americas, said: “Lloyd’s is delighted to welcome Syndicate 1890 to the market as it combines Allianz’s strongly performing reinsurance portfolio with Oaktree’s capital support and investment management capabilities. The choice of Lloyd’s for this structure reflects the efficiency and flexibility of our platform in connecting insurance risk with capital and enabling innovative solutions through London Bridge 2.”
