Ki, launched by Brit in 2020, will become a stand-alone company within the Fairfax Group, starting on 1 January 2025.
Having commenced writing business in 2021 as syndicate 1618 at Lloyd’s, Ki is said to be the first digital follow syndicate in the market.
In 2024 alone, Ki wrote more than $1bn of GWP through its platform.
The company has reached a scale that necessitates independent operations, yet it will retain a relationship with Brit that will continue as a nominated lead for all classes of business.
This structural change will not affect the way brokers interact with Ki or the company’s business appetite.
Commenting on the move, Brit Group CEO Martin Thompson stated: “Ki is a true success story for Brit, and testament to the vision and ambition of both organisations. The scale, sophistication and growth potential of Ki makes this a natural next step, enabling both companies to focus on their core strengths in ‘lead’ and ‘follow’ respectively.”
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By GlobalDataKi CEO Mark Allan said: “Ki’s achievements since its launch in 2020 validates our unique approach to digital fast-follow, built on underwriting discipline.
“We could not have wished for a better home than Brit for our first four years, and they remain a cornerstone partner for Ki. Becoming a stand-alone company is an important milestone for everyone at Ki and positions us to capitalise on the opportunities we have ahead of us.”