Lloyd’s managing agency AEGIS London is expecting to grow its Syndicate 1225 by 5% in 2019 following another profitable year.
AEGIS London delivered a combined ratio of 94% and profits of £22m for 2018, overcoming difficult market conditions and a challenging business review process at Lloyd’s.
This was also 32% ahead of its 2017 result despite above-average catastrophe losses in the market, with more than 90% of its result coming from underwriting profit.
“We are pleased to have outperformed the market once again,” said David Croom-Johnson, AEGIS London’s managing director. “Our consistent adoption of disciplined profitable growth means that our people develop as our business grows.”
“Following the business planning process at the end of last year, we have maintained our presence in all the classes of business we wrote in 2018,” he continued. “This provides great continuity for our brokers and their clients.”
AEGIS London also explained that its investment in online quote-and-bind platform OPAL is expected to continue to bring new business into the market as its product range is increased during 2019.
“We remain strongly positioned across our entire business to take advantage of more favourable market conditions,” Croom-Johnson added. “We will continue to seek new talent as we expand our product offering and grow our existing book.”