Carbon Underwriting Limited has approval from Lloyd’s to increase its stamp capacity for 2024 and said its Syndicate 4747 aims to increase gross written premium from £150m in 2023 to £204m in 2024.

Nick Tye, CEO at Carbon, said: “Backed by a shared vision and a highly motivated team, we have been on a remarkable growth journey, and the approval of our 2024 business plan sets the stage for an exciting next phase.

Carbon is transforming the delegating underwriting world by implementing in-house technology that supports best-in-class underwriting, and we have proudly assembled 51 incredible team members that in my view set the benchmark for all of the syndicates in Lloyd’s.”