London, UK, 17 November 2025 – Dale Underwriting Partners (“Dale”), the trading name for Dale Managing Agency Limited’s Lloyd’s Syndicate 1729, and K2 Insurance Services (“K2”), a leading independent MGA platform, have received ‘in principle’ approval from Lloyd’s to establish a new Special Purpose Arrangement (“SPA”), Syndicate 1954.
The SPA will be managed by Dale Managing Agency Limited and hosted by Dale Syndicate 1729. It is expected to write £80 million of gross written premium in 2026, with 40% retained by Dale.
“The launch of this SPA in partnership with K2 reflects a shared commitment to underwriting discipline and long-term portfolio development,” said Ian Bridge, Active Underwriter, Dale Underwriting Partners. “This is a natural next step in our relationship and a clear example of our underwriting-first strategy in action. It allows us to deepen our reach into business lines where we have proven expertise, while supporting our long-term growth plans.”
The portfolio includes Property, Specialty, and Casualty programs, and has been curated leveraging K2’s advanced underwriting analytics and Dale’s underwriting standards and risk appetite. With K2 providing 20% of the underwriting capital of the SPA, over 50% of the gross portfolio is capitalised by funds aligned to Dale and K2, reinforcing the partnership’s stability and long-term intent.
The SPA introduces 100% incremental premium to Lloyd’s, including new products not currently available in the market. The arrangement also leverages Lloyd’s global licenses, enabling broader distribution and product innovation across key territories.
“This SPA reflects our broader ambitions to build high-quality partnerships that combine underwriting discipline with aligned and efficient capital,” said Duncan Dale, Chief Executive, Dale Underwriting Partners. “It also highlights our structuring and capital management capabilities which are central to how we will look to scale our business.”
“Lloyd’s represents the ideal platform and environment for K2 to deploy our own risk capital alongside our market-leading underwriting,” said Parth Patel, CUO of K2 International. “It allows us to further strengthen alignment with our capacity partners both longstanding and new and reinforces our commitment to sustainable, performance-driven growth.”
Bob Kimmel, K2 Group CEO, added, “This partnership with Dale marks a significant strategic milestone in K2’s evolution, and ‘in-principle’ approval from Lloyd’s is the ultimate validation of our underwriting quality and governance. Syndicate 1954 underscores our continued dedication to building an entrepreneurial, purpose-built platform that delivers exceptional value to all stakeholders.”
Howden Capital Markets & Advisory is acting as Financial Advisor to K2.
Media Contact:
Katherine Moura, Chief Brand & Communications Officer
press@k2ins.com
