Fidelis: proven Lloyd’s pedigree, still outsourced
Fidelis is the more interesting case, because it isn’t a first-time entrant figuring out how Lloyd’s works. Richard Brindle spent years underwriting at Lloyd’s syndicates before founding Lancashire in 2005, and his return to the market with Syndicate 3123 in 2024 was framed at the time as exactly that, a comeback. Even with that background, and with Hampden Agencies, the market’s largest provider of private capital, alongside him, the syndicate launched with Asta running the agency function rather than a bespoke Fidelis managing agent.