Cortina, a planned Lloyd’s syndicate numbered 1956, would give Aon clients another source of reinsurance capacity over multiple years, subject to final approval before it starts writing business.
Aon and funds managed by Blackstone announced the venture Nov. 6. Lloyd’s Council approved Cortina in principle Oct. 16, and QBE will oversee its underwriting and governance.
Under Aon’s proposal, Cortina would take a 3% portion of eligible property catastrophe excess-of-loss treaties and a 5% portion of other eligible treaties arranged by Aon. Participating clients would receive dividends tied to Cortina’s share of their reinsurance programs, though Aon has not disclosed the payment formula or likely size. An earlier EconoTimes report on Cortina’s terms outlined the proposed allocations and dividend terms.
Aon is targeting Jan. 1, 2027, for Cortina syndicate 1956 to start underwriting, contingent on final approval.
