Syndicate results 2019 #6 Cincinnati Global 318

Active underwriter NM Chalk

Syndicate 318 underwrites in two core business areas of International and US Property and Aviation.

International and US Property is sub divided into risks accepted under direct and facultative policies, and business written under binding authorities. The direct and facultative business covers international risks, with the largest proportion domiciled in the US. The risks accepted under binding authorities are almost all from US coverholders, with a small amount in Canada. The Aviation business is predominantly from smaller airlines, as well as some general aviation business.

KPI 2019 2018
Gross premiums written £167.4m £176.8m
Reinsurance ceded £28.8m £32.8m
Profit/(loss) for the year £24.1m (£55.6m)
Gross loss ratio 53.2% 91.9%
Net loss ratio 54.8% 103.6%
Operating expense ratio 33.3% 32.7%
Combined ratio 85.8% 140.9%
Annual investment yield 2.8% 1.8%
Syndicate capacity £234m £234m
2019 Gross premiums written £000  Gross premiums earned £000 Gross claims incurred £000 Net operating expenses* £000 Reinsurance balance £000 Total £000
MAT 4,020 4,398 (5,185) (1,843) 744 (1,886)
Total 167,420 174,753 (92,955) (48,159) (16,474) 17,164
2018 Gross premiums written £000  Gross premiums earned £000 Gross claims incurred £000 Net operating expenses* £000 Reinsurance balance £000 Total £000
MAT 4,015 3,944 (2,372) (976) (396) 200
Total 176,816 171,928 (157,962) (46,295) (19,109) (51,438)

https://www.lloyds.com/investor-relations/financial-performance/syndicate-reports-and-accounts/2006/06/0318