Santam, South Africa’s largest short-term insurance company, has received full approval to launch a new underwriting syndicate in the United Kingdom, starting from 1 January 2026. The new entity, known as Santam Syndicate 1918, has been granted final permission to operate under the Lloyd’s insurance market. This marks a major step in the company’s plan to expand globally and strengthen its presence in international insurance and reinsurance markets.
According to the company, it first received in-principle approval in July, but the licence became final after Santam successfully met all requirements set by Lloyd’s for new entrants. Lloyd’s, based in London, is the world’s leading insurance marketplace, bringing together insurers, brokers and capital providers from more than 200 territories. To gain approval, companies must meet strict operational standards, including governance, risk management systems, financial capability, and staffing requirements.
For the past five months, Santam has been working to build a strong foundation for the syndicate. The company appointed an experienced management team, recruited skilled insurance professionals and ensured operational readiness ahead of the 2026 launch date. Santam said these efforts were important to meet Lloyd’s expectations and to position the new syndicate for long-term success.
The company also confirmed key executives who will lead the new syndicate in London. Rob Betech, who has 30 years of experience in the global insurance and reinsurance market, will serve as both the Chief Executive Officer and Chief Financial Officer. He will be responsible for overseeing the syndicate’s strategy, growth, financial performance and compliance.
Simon Clapham, who has more than 45 years of experience, has been appointed as the Chief Underwriting Officer and Active Underwriter. His role involves leading the underwriting team, setting risk appetite, and ensuring that Santam Syndicate 1918 builds a profitable portfolio across different insurance classes.
Richard Weston, with 25 years of experience in the London insurance market, will act as both the Chief Actuary and Chief Risk Officer. He will oversee risk modelling, pricing strategies, regulatory reporting and overall risk management. Santam also appointed Carla Jordan, who has 25 years of experience in reinsurance and insurance, as the Chief Engagement and Portfolio Officer. She will manage stakeholder relations, portfolio performance and business development.
Santam announced that the first year of underwriting will focus on a range of specialist insurance classes. These include international property, North American property open market and binders, marine insurance, energy insurance, political violence and terrorism cover, financial institutions, professional indemnity, and cyber insurance. These are areas where Lloyd’s is known to have high demand and strong global expertise.
The company projected that its Gross Written Premium (GWP) for 2026 will be more than £300 million, which is approximately R6.8 billion. Santam described this projection as a major milestone, saying the launch will increase the group’s international revenue and diversify its portfolio across multiple markets outside Africa. The company added that Santam Syndicate 1918 is expected to play a strategic role in achieving its long-term international growth vision.
Santam Group CEO, Tavaziva Madzinga, said the new syndicate is part of the group’s FutureFit2030 strategy, which focuses on expanding the business beyond South Africa, diversifying risk, and strengthening the company’s competitiveness in the global insurance industry. He explained that operating through Lloyd’s will allow Santam to scale quickly, access global insurance markets and partner with brokers and clients worldwide.
According to Madzinga, launching a Lloyd’s syndicate is the most efficient platform for the company’s international expansion. He said the approval of Syndicate 1918 represents a major step forward and will help transform Santam into a stronger, globally recognised insurance group. He added that the company is committed to maintaining high standards of governance, operational excellence and risk discipline, which Lloyd’s requires from all its participating syndicates.
Madzinga noted that Lloyd’s operates as a partially mutualised marketplace, meaning different insurers and capital providers can join the platform through syndicates to underwrite specialist risks. This structure helps companies like Santam attract global partners, deploy capital efficiently and compete in niche insurance segments. He said Santam plans to use this opportunity to build capacity, improve innovation and position the group as a trusted insurer in international markets. Santam said the approval signals confidence in the company’s capabilities and opens a new phase in its global expansion journey. It added that the syndicate will allow the group to tap into global opportunities, strengthen relationships in the London market and deliver long-term value to shareholders, clients and partners across different territories.
