Specialist insurer and reinsurer AEGIS London has reported a combined ratio of 99% for its Lloyd’s Syndicate 1225 over 2017, which is 15% better than the overall results for the Lloyd’s of London market.
AEGIS also saw gross written premiums (GWP) of £462 million for the year, a 23% increase from 2016 that puts it well ahead of targets.
Additionally, AEGIS’s Syndicate 1225 posted a net loss ratio of 56% for 2017, which compares with the overall Lloyd’s market result of 74%.
David Croom-Johnson, Managing Director of AEGIS London, commented on the results: “Clearly the result for the Lloyd’s market as whole was disappointing. Even though last year was exceptional in terms of catastrophes, the results were still weak.
“This reveals some core issues in a number of businesses in the market, issue which need to be addressed if the Lloyd’s brand is to flourish in the future.
“AEGIS has outperformed the market in nine of the last ten years and has done so by well over 10% in each of the last three. The recipe for this consistency of performance is a careful and balanced approach built on thoughtful and prudent underwriting and the depth and breadth of our offering.
“We have become an attractive home for talent as we expand our product offering and grow out our existing book, and we expect that to continue next year. We want people to pick up the phone and talk to us about how they can help us build our business. We are expanding our stamp capacity for 2018 by 21% to take advantage of market opportunities”.
