The Lloyd Key agreement becomes an independent entity within the Fairfax Group

Lloyd’s algorithm tracking platform Digital Flatform KI has completed the separation from its parent company to become an independent entity within the Fairfax Group, effective from 1 January 2025.

The news was first reported in December 2024.

KI was launched by Brit in 2020 and subscription for the 1618 bond began in 2021.

In 2024, the entity reported more than $1 billion in gross written premium.

As an independent company, KI will continue to focus on its goal of becoming a data-driven specialist insurance business, while also helping to make Lloyd’s the most ‘efficient’ market for specialist insurance globally.

ASTA Managing Agency has been appointed as the managing agent to support its independent operations.

The restructuring of the company’s framework will not affect its interactions with brokers or its business operations.

In 2020, Blackstone-managed Fairfax Financial and Funds tactically invested $500 million to support KI’s growth.

Blackstone and Fairfax will remain shareholders in KI.

Mark Allan, CEO of KI, commented: “In four years, we have seen real momentum behind our business model and have now reached the scale to become independent.

“As Ki embarks on the next chapter of its growth, our independence, coupled with the partnership with ASTA, will enable us to focus on expanding our support for our partner brokers and accelerate the development of our algorithmic underwriting capabilities.

“As a stand-alone company within Fairfax, we will be better positioned to realize our potential and are excited about the opportunity to further innovate our offerings to brokers and clients in the years to come.”

ASTA CEO Loren Harvet 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 important transition to ASTA hosting SYNDICATE 1618 underscores our commitment to driving innovation and development in the market.”

“Lloyd’s Syndicate Ki becomes independent entity within Fairfax Group” was originally created and published International life insurancea trademark of Globaldata.

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