11:51 AM EDT, 03/28/2024 (MT Newswires) -- The Fidelis Partnership said Thursday that Lloyd's has granted "in principle" approval for the launch of Syndicate 3123 in partnership with Fidelis Insurance Holdings ( FIHL ) and Hampden Agencies, the largest provider of private capital to Lloyd's.

Syndicate 3123 has an initial target to write $180 million of gross written premium in H2 and $450 million in 2025, Fidelis said, adding that the syndicate will be managed at formation with support from Asta, the third-party managing agent at Lloyd's.

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