Antares Group, the UK- and Bermuda-based insurer owned by Qatar Insurance Group, announced that its Commercial division, comprising Lloyd’s Syndicate 1274 and the Antares Reinsurance business in Bermuda, saw premiums rise 11.4% year-on-year to $869 million in 2025.
In 2024, Antares restructured its business into three divisions, with its core operations split between the Commercial and Retail segments, while a specialty Legacy division manages the group’s run-off portfolio. The company said the positive impact of this restructuring was reflected in its 2025 results.
For the year, total premiums amounted to $1.1 billion. Retail premium from Antares Insurance Company grew by more than 100% in its second year of trading, doubling to reach $100 million.
Antares’ undiscounted combined ratio improved by 1.8 % points to 91.2%.
Overall profit for the core business stood at $124 million, despite wildfire and Ukraine losses reaching around $100 million.
Legacy business losses fell again to $41 million, improving on the $62 million recorded in 2024 and significantly lower than in prior years, demonstrating the continuing success of the group’s strategy to focus proactively on legacy portfolios.
Antares also accounted for around 40% of total revenue and half of the profit for the wider global Qatar Insurance Company group.
Mike van der Straaten, CEO of Antares Group, said, “Our continued financial success in 2025, particularly in the face of significant wildfire and Ukraine losses, is testament to Antares’ robust business model and the strong leadership shown in each of our business units. Our Commercial business led by Mark Graham, including Syndicate 1274, continues to grow year-on-year; the Retail business led by Pantelis Koulovasilopoulos has reached new heights in the second year of trading for our UK company; and our renewed focus on Legacy business led by Jagdis Barber, has curtailed losses in a previously troublesome area of the business.”
Kevin Wenzel, CFO of Antares Group, added, “In 2026, Antares is launching a Commercial initiative to initially write just over $100m GWP across three external syndicates: BEAT, CFC, and Africa Specialty Risks, which will complement the ongoing success of its own Syndicate 1274.”
Jim Linsao, COO, commented, “In 2025 we launched a dedicated Leadership Development Programme, underscoring our investment in the growth and progression of existing employees. At the same time, Antares continued its focus on attracting talent by introducing its first school leavers programme, which resulted in six new hires.”
