Carbon Underwriting Limited’s Syndicate 4747 is expecting gross written premium (GWP) to increase from GPB 150 million in 2023 to an expected GBP 204 million in 2024 across a staggering number of new product lines and geographies.

At the same time, the company is also aiming to continue developing and building out its data-driven Lloyd’s property consortium, which is spearheaded by Carbon’s proprietary underwriting platform, Graphene.

The underwriting platform continues to be successfully adopted across the market

The company is also looking to continue building out its team, which has grown from four in 2020 and now currently sits at 51 market-leading experts.

“Backed by a shared vision and a highly motivated team, we have been on a remarkable growth journey, and the approval of our 2024 business plan sets the stage for an exciting next phase. Carbon is transforming the delegating underwriting world by implementing in-house technology that supports best-in-class underwriting, and we have proudly assembled 51 incredible team members that in my view set the benchmark for all of the syndicates in Lloyd’s,” said Carbon CEO Nick Tye.

Adding: “We fully intend to continue to deliver outstanding results, and the green light for our 2024 business plan from Lloyd’s for Syndicate 4747 is confirmation of our confidence and stability.

“This year we welcomed fresh investment backing through our partnership with Apiary Capital, which represents a significant acceleration opportunity for us. As a team, we share a vision and we succeed as one.”