Algorithmic Lloyd’s digital follow platform, Ki, has delivered record results for the full year 2025, as profit after tax grew by 50% to $110.4 million compared to $73.6 million in FY’24.
Ki’s total gross managed premium (GMP) for FY’25 hit $1.11 billion, an increase of 6.9% compared to $1.04 billion in FY’24. Of these, $905.5 million was written by Ki Syndicate 1618, and $205.5 million by capacity partners.
The adjusted profit before tax increased by 74% to $171.4 million, compared to $98.5 million for FY’24. Meanwhile, for the year, the adjusted undiscounted combined ratio (CoR) was 91.3%, compared to 95.2% in FY’24.
Additionally, for FY’25, the undiscounted CoR was 95.7% compared to 98.2% in FY’24, with a discounted CoR of 77.3% compared to 83.2% in FY’24.
Lastly, Ki reported an 11.6% year-on-year increase in quotes delivered to brokers, and has added QBE as the fourth capacity partner alongside Aspen, Beazley, and Travelers.
To recap, in January 2025, Ki completed its separation from its parent company to become a standalone entity within the Fairfax Group.
Mark Allan, Chief Executive Officer, Ki, commented, “I’m pleased to announce an excellent set of results as Ki celebrates its first full year as a standalone business. In a competitive market environment, our performance demonstrates the strength of Ki’s model, combining deep underwriting expertise with industry-leading technology and data.
“In 2025, we grew our premiums nearly 7% to over $1.11 billion while maintaining our focus on underwriting discipline with an adjusted combined ratio of 91.3%. I’m particularly encouraged by the profitable results we’ve delivered at a time when Ki continues to invest significantly in our digital platform, AI capabilities and tech stack as we continue to build an insurer that reflects not just the current but the future state of the industry.
“In the coming year, we’ll continue the momentum, doubling down on what we do best; helping brokers and their clients to seamlessly place complex specialty business. With AI rapidly reshaping the sector, we see the role of Ki as helping the industry embrace new opportunities and we have the technology and expertise to be at the forefront of the transformation taking place.”
