Blackstone to Back Fidelis Syndicate on Lloyd’s of London Market

Blackstone Inc. is backing a new syndicate on Lloyd’s of London, the latest example of how the world’s largest specialty insurance market is diversifying its funding.

The “Syndicate 2126” is being launched by Bermuda-based insurance underwriter The Fidelis Partnership, targeting $300 million of gross written premiums in 2026, according to an emailed statement on Friday. The venture will underwrite risk across property, specialty and bespoke lines.

It will launch with three-year capacity from Blackstone, which will also be responsible for the syndicate’s asset management. The announcement comes after Blackstone led a $2 billion private credit deal for Fidelis last year. ...