Syndicate Results 2019 #47 Syndicate 1910 Argo

Active Underwriter M Wilken

The Lloyd’s syndicates have now published their results and, in some cases, added detail and an outlook for 2020. As in the past two years, IMN is summarizing the results from all syndicates that have a marine interest which have provided some information on the marine side.

KPIs £m 2019 2018 Change %
Gross written premium 289.0 364.0 (75.0)
Profit/(Loss) for the financial year (1.2) 7.9 (9.2)
Total comprehensive income (1.2) 3.9 (5.1)
Claims ratio 83.0% 70.8%  
Expense ratio 20.3% 24.4%  
Combined ratio 103.3% 95.2%  

Chairman Tony Latham said that in 2019 the Syndicate experienced large losses in the year from the Marine account.

He said that the net impact of this and other events was managed effectively due to the reinsurance and retrocessional programme purchased by the Syndicate.

Sectors

2019 £000s GPW GPE GCI Op exps Reins Bal Total
Fire/property damage 0.7 4.3 0.1 (6.9) (1.8) (4.3)
Other 3.2 0.0 (2.5) 1.2 (0.1) (1.4)
Total 3.9 4.3 (2.4) (5.7) (1.9) (5.7)
Reinsurance acceptances 285.2 293.1 (235.8) (20.0) (35.7) 1.5
Grand Total 289.0 297.4 (238.3) (25.7) (37.6) (4.2)
2018 £000s GPW GPE GCI Op exps Reins Bal Total
Fire/property damage 65.7 66.4 (52.2) (7.0) 2.3 9.5
Other 13.1 9.1 (12.4) (1.0) 2.8 (1.5)  
Total 78.8 75.5 (64.6) (8.0) 5.1 8.0
Reinsurance acceptances 285.2 281.1 (270.6) (26.7) 15.1 (1.1)
Total 364.0 356.6 (335.2) (34.7) 20.2 6.9

https://www.lloyds.com/investor-relations/financial-performance/syndicate-reports-and-accounts/2017/1910