Lancashire 2010 driven to “disappointing” 114.7% CR by nat cats and Russia-UkraineBermuda-London carrier Lancashire bucked the trend of many of its Lloyd’s peers in 2022 as it posted an underwriting loss with a combined ratio of 114.7 percent at its flagship Syndicate 2010.
AIG’s $600mn+ HNW Lloyd’s unit posts $64.2mn loss despite remedial effortsAIG’s high net worth (HNW) Syndicate 2019 posted an underwriting loss of $64.2mn last year, despite attempts throughout 2022 to reduce the volatility of its portfolio through a number of re-underwriting initiatives.
Beat launches specialist energy underwriting agency led by CharltonBeat Capital Partners has launched specialist energy underwriter Horace Agency Limited, which will initially write non-US insurance business on behalf of Syndicates 4242 and 1416.
Volante 1699 bullish on 2023 opportunity following foundational debut yearClass of 2022 start-up syndicate Volante 1699 enters 2023 unencumbered by the “hurdles” of its debut year, CEO Talbir Bains has said, with the executive offering a bullish assessment on the carrier’s future expansion and underwriting performance.
$42bn Hurricane Ian loss implied by cedant loss picks, says MAP’s TrubshawMAP’s retiring underwriter Richard Trubshaw has compared current underwriting conditions to the “traumatic period immediately following Hurricane Andrew in 1992” as he signed off his last year as active underwriter of the consistently profitable Syndicate 2791.
Munich Re places SIAB 1840 into run-off at end of three-year termMunich Re has placed its Innovation Syndicate 1840 – the first Syndicate-in-a-Box (SIAB) launched under the Lloyd’s framework – into run-off with the business to be folded into the German reinsurer’s flagship Syndicate 457.
RenRe posts CR of 95.1% as UW profit climbs to $89mnBermudian reinsurer RenaissanceRe has posted a combined ratio of 95.1 percent for Syndicate 1458, indicating an improvement of 11.1 percentage points from 106.2 percent in 2021.
Aspen makes Lloyd’s its core London platform as Syndicate 4711 posts 75.4% CR in 2022Aspen 4711 has delivered a significant reduction in its combined ratio year on year, slashing 41.9 percentage points off its 2021 result of 117.3 percent as the syndicate moved from the bottom quartile of Lloyd’s performers in 2021 to the top quartile in 2022.
Meacock successor chides Lloyd’s over high costs in annual traditionMichael Meacock’s successor as active underwriter for Syndicate 727 has continued the specialist Lloyd’s insurer’s annual tradition of chiding the Corporation over the costs of doing business at the near 350-year old market.
Lloyd’s appoints Loynes as CEO of AsiaLloyd’s has appointed Emma Loynes as its country manager for Lloyd’s in Singapore and as CEO of Lloyd’s Asia.
Analysis: CFC 1988 outperforms fellow second-year syndicatesCFC Syndicate 1988 was the leading performer among the cohort of new businesses to enter Lloyd’s in 2021 for a second year running, with the syndicate posting a combined ratio of 83.5 percent in its sophomore year of operation.
TMK 510 posts 90.6% CR despite £44.5mn aviation UW lossTokio Marine Kiln Syndicate 510 delivered an underwriting profit of £95.4mn in 2022 despite a £44.5mn loss in its aviation division driven by Russia-Ukraine reserving.
Lloyd’s 2022 results: the best and worst performing syndicatesHiscox Syndicate 33 was the leading performer among Lloyd’s heavyweights during 2022 as it delivered a 77 percent combined ratio, an improvement of 6 percentage points on the previous year.
Former Argo Syndicate 1200 reports 88.6% CR for 2022Syndicate 1200, acquired by Westfield from Argo last month, has posted a combined ratio of 88.6 percent for 2022, a 5.8 percentage point improvement compared to 2021.
MS Amlin Syndicate 2001 posts 99.9% CR in first UW profit since 2015MS Amlin Syndicate 2001 returned to underwriting profitability as it posted a 99.9 percent combined ratio for 2022 - its first sub-100 percent combined ratio since 2015.
Syndicate 218 swings to £8mn loss as CR approaches 100 percentIQUW Syndicate Management has posted a combined ratio of 99.8 percent for Syndicate 218 for 2022, marking a 2.4 percentage point deterioration year-on-year.
The Hartford 1221 posts 102% CR in 2022; flags $35.7mn Russia-Ukraine exposureThe Hartford Syndicate 1221 saw its combined ratio deteriorate by 6.5 percentage points year on year as it returned to the red for 2022 with its underwriting result “significantly impacted” by loss reserves for the Russian-Ukraine conflict.
Chaucer 1084 reports strong UW result although economic headwinds see profit fallChaucer has reported a combined ratio of 93.2 percent for Syndicate 1084 in full year 2022, marking a 4 percentage point deterioration compared to 89.2 percent in 2021.
Atrium 609 posts 89% CR despite reserving for £139mn gross Russia aviation lossAtrium has booked gross reserves of £138.9mn ($171.5mn) related to Syndicate 609’s potential exposure to Western aircraft trapped in Russia, reducing to £32.9mn net of reinsurance.
Blenheim posts £14mn loss for Syndicate 5886 as property treaty rebalancing continuesBlenheim Syndicate 5886 has reported a loss of £14mn ($17.3mn) for calendar year 2022, while its combined ratio improved by 3 percentage points year on year to 106 percent.