Germany-based Allianz SE and U.S.-based Oaktree Capital Management LP are launching a new Lloyd’s reinsurance vehicle called Syndicate 1890, which will begin underwriting on Jan. 1, 2026, Captive Insurance Times reported. Oaktree will fund the syndicate and serve as investment manager for the vehicle’s assets, while Syndicate 1890 will receive a share of Allianz’s outwards reinsurance programs.