Aon and Blackstone funds launch Cortina Lloyd’s syndicate

Aon and funds managed by Blackstone have announced Cortina syndicate 1956, a new Lloyd’s syndicate providing multiyear reinsurance capacity to Aon clients, with QBE serving as managing agent.

Cortina received in-principle approval from Lloyd’s on October 16, 2026, and plans to begin underwriting January 1, 2027, subject to final approval.

For participating clients, the syndicate will write 3% of eligible property catastrophe excess-of-loss treaties and 5% of other eligible treaties arranged by Aon. It will follow the terms and claims decisions of the lead reinsurers on each placement.

Clients will receive a dividend based on Cortina’s share of their reinsurance programs, passing along savings from the syndicate’s operating structure. The model aims to bring long-term institutional capital into reinsurance and provide capacity across renewal cycles.

QBE Insurance will oversee underwriting and governance, while capital will enter through Lloyd’s London Bridge 2 framework.

“Cortina is a first-of-its-kind model for reinsurance capacity at Lloyd’s.” – Jason Harris, QBE International CEO. Harris added that QBE Re’s strategy remains focused on long-term partnerships.