Aon and Blackstone Launch Cortina Lloyd's Syndicate to Provide Long-Term Reinsurance Capacity
Aon plc (NYSE: AON) and funds managed by Blackstone (NYSE: BX) have announced the launch of Cortina syndicate 1956, a new Lloyd's syndicate designed to provide multi-year reinsurance capacity. Operating with QBE as the Managing Agent, the syndicate aims to inject long-term institutional capital into the reinsurance market to enhance resilience and address growing risk complexities. The syndicate is expected to begin underwriting on January 1, 2027, pending final Lloyd's approval. Cortina will utilize a 'lead/follow' approach, following terms set by lead reinsurers while offering economic efficiencies to participating Aon clients through a dividend structure based on their share of reinsurance programs.