Santam, South Africa’s largest short-term insurer with a market share exceeding 22%, has received Lloyd’s final permission to launch Santam Syndicate 1918, the South African insurer’s London-based syndicate, allowing it to underwrite business from 1 January 2026.
The approval follows months of preparations, including building operational foundations and appointing an experienced executive team.
The Syndicate, named in honour of Santam’s founding year, will focus on property (international and North America open market and binders), marine, energy, political violence and terrorism, financial institutions, professional indemnity, and cyber insurance. Gross written premiums for 2026 are projected to exceed £300 million.
Rob Vetch, a 30-year veteran of the global reinsurance market, has been appointed CEO and chief financial officer. Simon Clapham, with more than 45 years of market experience, will serve as chief underwriting officer and active underwriter. Richard Weston takes on the role of chief actuary and chief risk officer, while Carla Jordan has been named chief engagement and portfolio officer.
Tavaziva Madzinga, Santam’s Group chief executive, described the launch as “a major step in realising our international ambitions and transforming the Santam Group”. He added: “International growth and diversification is a key component of our FutureFit2030 strategy. Launching a Lloyd’s syndicate is the most efficient and scalable platform to pursue this business goal. Santam Syndicate 1918 is a major step in realising our international ambitions and transforming the Santam Group. We are excited to receive permission to underwrite and look forward to opening for business on 1 January 2026.”
Santam first disclosed its plans for Syndicate 1918 in July, when it received in-principle approval from Lloyd’s. At the time, Madzinga said the venture would provide “a solid foundation for continued international growth and diversification” and provide Santam with access to “the best insurance talent in the world that London has to offer”.
The launch comes alongside Santam’s strategic acquisition of a 51% stake in UK-based Avatar Holdings Limited in July for £3 million, funded from available cash resources.
Avatar is a start-up using a technology platform to underwrite and price mid-sized corporate risks more efficiently than traditional methods.
Santam noted that the mid-sized corporate market in the United States “presents a significant growth opportunity for Avatar given its superior underwriting capability”, and the start-up could become a source of future business for Syndicate 1918 once a successful track record is established.
Dawn Miller, Lloyd’s chief commercial officer and CEO of Lloyd’s Americas, welcomed Santam’s final approval, saying: “The African continent is undergoing significant development and represents a huge opportunity for our industry to facilitate economic progress, impact, and resilience. We look forward to welcoming Santam as the leading property and casualty insurer in Africa as they utilise Lloyd’s as a platform for international expansion by unlocking its global licences and excellent financial strength.”
