OAK Enterprise Syndicate 1440 - Permission to underwrite received

OAK Global has confirmed that Lloyd’s has granted permission to underwrite for Syndicate 1440, marking the launch of its new strategic business unit, OAK Enterprise.

From 1 January 2026, OAK Enterprise will provide property and specialty retrocession capacity to clients via Syndicate 1440. It becomes the second business unit within OAK Global, alongside OAK Reinsurance, which operates through Syndicate 2843 and focuses on primary reinsurance.

The creation of Syndicate 1440 is intended to strengthen retrocession offerings in the London market, combining specialist underwriting expertise with Lloyd’s security. The syndicate also offers investors access to retrocession risk through the Lloyd’s capital framework.

Deepon Sen Gupta, Head of Capital Partnerships at OAK Global, commented: “We are delighted to have secured investment from a broad spectrum of long-term capital providers, across traditional Lloyd’s Names, trade partners and institutional investors, including Bain Capital. Their commitment recognises OAK Enterprise’s excellent origination and retro underwriting capabilities and unique offering within the Lloyd’s marketplace.”

OAK Enterprise will be led by Chief Underwriting Officer Roland Morse, reporting to Cathal Carr, Founder, CEO and Group CUO of OAK Global.

Polo Managing Agency Ltd will provide turnkey services for Syndicate 1440.

Retrocession is the reinsurance of reinsurance business and it occupies a valuable place in the reinsurance value chain as the way that a primary reinsurance company can mitigate exposures. Given the risk profile, were remote but likely events can cause substantial losses across a large part of the insurance industry, retrocessional business requires capital providers with a sizeable appetite for risk. Argenta clients have provided capital to this new start up. We wish Oak every success with this new venture.