Niyam Group announces that Lloyd’s of London has approved Syndicate 2047 and granted permission to underwrite.
Niyam Syndicate 2047 will support the development of the Indian re/insurance market in alignment with India’s Vision 2047, reflected in its name. It will commence underwriting from 1 April[1].
Niyam Group also announces the appointment of Devesh Srivastava as Chairman of the Group.
Devesh Srivastava is an Indian re/insurance industry veteran with extensive experience across underwriting, institution-building, governance and leadership. His appointment strengthens Board oversight as Niyam advances its India and high-growth markets strategy.
Devesh Srivastava, Chairman of Niyam Group, commented: “Niyam has a clear sense of purpose and a disciplined approach to building a reinsurance platform rooted in India while connected to global markets. The Group’s ambition to contribute meaningfully to India’s Vision 2047, supported by the strength and standards of Lloyd’s, is highly relevant. I look forward to working closely with the Board and management team, and engaging with the market as we build this platform.”
Sima Ruparelia, President and Active Underwriter of Syndicate 2047, added: “With approval now in place, our focus is on execution as we approach the 1 April renewals. We believe strongly in India and are here to support brokers and cedants with consistent capacity and disciplined risk selection, supported by an experienced underwriting team on the ground.”
Bobby Swarup, Founder and CEO of Niyam Group, said: “Lloyd’s approval of Syndicate 2047 is a pivotal moment for Niyam. Building this platform has required clarity of purpose, courage, resilience and rigorous execution. I am truly grateful to my team and all our partners who worked tirelessly to get us here. We are fortunate to have Devesh as Chairman, and I deeply appreciate his guidance and support, and I look forward to working closely together."
Niyam Group is focused on building a reinsurance platform that connects global capital with opportunities in India and other high-growth markets, supporting the development of the re/insurance ecosystem.
About Niyam Group
Niyam (नियम) is a Sanskrit word denoting discipline and observance, anchored in purpose and intention. It represents a framework of principles centred on ethical conduct, inner purity, and self-mastery.
Niyam Group embodies these principles as a purpose-led reinsurance group, focused on disciplined underwriting, long-term capital, and strengthening businesses to build economic resilience across India and high-growth markets.
Our vision for 2047 reflects a clear commitment to building an institution of value and relevance. It is inspired by Viksit Bharat 2047, India’s ambition to become a developed nation by the centenary of its independence.
For India, this is subject to receiving an FRN from the IRDAI or approval of Niyam’s IIO in GIFT City.
For further information, please contact: info@niyamgroup.com