Aon and funds managed by Blackstone launch Cortina, a new Lloyd's syndicate offering efficient, long-term capital to reinsurance clients
Key Highlights
- ➤Cortina syndicate 1956 targets Lloyd’s underwriting from 1 January 2027, pending final approval
- ➤Participating clients receive dividends reflecting Cortina’s share of their reinsurance programs
- ➤Cortina will write 3% of eligible property catastrophe treaties and 5% of other eligible treaties
- ➤QBE will manage Cortina’s underwriting and governance within Lloyd’s
- ➤Aon and Blackstone launch syndicate to add dedicated, multi-year reinsurance capacity
Expert Statements
Greg Case, President and CEO, Aon
“As risks grow in scale and complexity, clients are looking for effective risk transfer solutions that consider all forms of available capital.”
Greg Case, President and CEO, Aon
“Cortina is bringing additional, long-term capital through Blackstone together with QBE's expertise and the strength of Lloyd's to expand the market's capacity to take risk, help close protection gaps and enable greater resilience, investment and growth.”
Jon Gray, President and Chief Operating Officer, Blackstone
“The partnership with Aon and QBE will broaden the pools of capital available to the reinsurance market, expanding capacity and strengthening resilience across market cycles.”
Jon Gray, President and Chief Operating Officer, Blackstone
“We remain strong supporters of continued innovation at Lloyd's and are long-term investors in the sector.”
Jon Gray, President and Chief Operating Officer, Blackstone
“This partnership will help meet clients' evolving needs while supporting the market's long-term growth.”
Jason Harris, QBE International CEO
“Cortina is a first-of-its-kind model for reinsurance capacity at Lloyd's.”
Jason Harris, QBE International CEO
“As managing agent, we bring deep, specialist underwriting expertise and our leading Lloyd's capability to a syndicate that combines long-term institutional capital with stable, disciplined reinsurance capacity.”
Jason Harris, QBE International CEO
“It also gives us the opportunity to further grow our business through an innovative model.”
Jason Harris, QBE International CEO
“For QBE Re, the strategy remains unchanged: a continued focus on building long-term partnerships.”
Patrick Tiernan, Chief Executive, Lloyd's
“Lloyd's takes pride in being a market of firsts and in being the most capital-efficient marketplace in the world to connect capital to insurance risk.”
Patrick Tiernan, Chief Executive, Lloyd's
“By structuring this transaction at Lloyd's, we see the marriage of new long-term capital through our London Bridge 2 framework, with the highest underwriting and oversight standards to create long term value for clients, investors and the marketplace.”
Patrick Tiernan, Chief Executive, Lloyd's
“This is total innovation in action.”
Aon and funds managed by Blackstone launch Cortina, a new Lloyd's syndicate offering efficient, long-term capital to reinsurance clients PR Newswire
DUBLIN, Nov. 6, 2026 * Participating Aon clients benefit from the efficient structure through a client dividend * Operating within Lloyd's, with QBE as Managing Agent, Cortina is expected to begin underwriting from 1 January 2027 DUBLIN, Nov. 6, 2026 /PRNewswire/ -- Aon plc (NYSE: AON), a leading global professional services firm, and funds managed by Blackstone (NYSE: BX), the world's largest alternative asset manager, today announced the launch of Cortina syndicate 1956, a new Lloyd's syndicate that will provide dedicated, multi-year reinsurance capacity, broaden the capital available to clients and support the continued growth and resilience of the reinsurance marketplace.
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