Allianz and Oaktree Join Forces to Launch Reinsurance Syndicate at Lloyd's
Allianz SE | Munich | Dec 08, 2025
  • Allianz announces strategic partnership with Oaktree
  • Oaktree to establish new syndicate at Lloyd's
  • Partnership provides Allianz with multi-year, AA-rated reinsurance capacit

Allianz today announced a strategic partnership with Oaktree Capital Management, L.P. ("Oaktree"). Oaktree will establish a new reinsurance syndicate at Lloyd's, Syndicate 1890, which will begin underwriting from January 1, 2026, and will participate as a multi-year partner on Allianz's outwards reinsurance program.

By partnering with Oaktree and leveraging the Lloyd's platform, Allianz secures multi-year, AA-rated capacity. Syndicate 1890 positions Allianz to capitalize on the growing appetite of capital markets for insurance risks and access to third party capital. The Lloyd's structure offers operational efficiencies and flexibility for future expansion, supporting Allianz's continued growth and innovation in risk transfer. Oaktree brings significant expertise and a track record of investing in the insurance space, providing partners with both highly relevant experience and access to capital.

Syndicate 1890 will receive a share of the Allianz Group's outwards reinsurance programs, representing a broad and highly diversified global portfolio. Oaktree will both fund the syndicate and act as investment manager for the syndicate's assets.

Thorsten Fromhold, Chief Group Reinsurance Officer, Allianz SE Reinsurance, said:
"Allianz's underwriting portfolio is marked by its quality and diversity, making it a strong candidate for strategic reinsurance partnerships. The launch of this Lloyd's syndicate highlights the strength of the portfolio we are ceding and our consistent approach to reinsurance, which is an important contributor to Allianz's resilience. Our multi-year agreement with Oaktree will complement our existing strong relationships with traditional reinsurers. Leveraging the Lloyd's platform allows us to pursue tailored and innovative transactions that enhance these partnerships."

Chris Boehringer, Managing Director at Oaktree, said:
"We are excited to launch this innovative reinsurance syndicate together with Allianz, and within the Lloyd's ecosystem. We believe Syndicate 1890 is an important template for the convergence of alternative asset management and insurance, and will bring significant advantages to Allianz, Lloyd's, and Oaktree. We look forward to building this multi-year partnership with Allianz, which showcases both the attractiveness of the Allianz portfolio and Oaktree's investment expertise and innovative approach to investing in insurance."

Dawn Miller, Lloyd's Chief Commercial Officer and CEO of Lloyd's Americas, said:
"Lloyd's is delighted to welcome Syndicate 1890 to the market as it combines Allianz's strongly performing reinsurance portfolio with Oaktree's capital support and investment management capabilities. The choice of Lloyd's for this structure reflects the efficiency and flexibility of our platform in connecting insurance risk with capital and enabling innovative solutions through London Bridge 2."

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About Allianz

The Allianz Group is one of the world's leading insurers and asset managers serving private and corporate customers in nearly 70 countries. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world's largest investors, managing around 761 billion euros* on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage about 1.9 trillion euros* of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we are among the leaders in the insurance industry in the Dow Jones Sustainability Index. In 2024, over 156,000 employees achieved total business volume of 179.8 billion euros and an operating profit of 16.0 billion euros for the Group.

* As of September 30, 2025.

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Allianz SE published this content on December 08, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on December 08, 2025 at 09:53 UTC.