Subject to regulatory approval, MIC Global is to become a Lloyd’s coverholder of Greenlight Re’s Syndicate 3456. MIC focuses on embedding micro insurance solutions for platform businesses while Syndicate 3456 specialises in designing products in partnership with insurtechs.

Jamie Crystal, CEO of MIC, said: “We are excited about joining forces with S3456. This allows us to build on our existing partnership and to leverage the scale and resources that S3456 and Lloyd’s bring. We are confident that this will enhance the value we can deliver to our clients and business partners.”

Pat O’Brien, CEO of Greenlight Re Ireland, added: “The addition of MIC as a coverholder with S3456 will provide substantial value and resources to both Greenlight Re and MIC, and we look forward to building on this strong foundation.”