Syndicate Results 2019 #64 Syndicate 4020 Ark

Active Underwriter N Fox, M Raven

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 £000s 2019 2018
Marine and Energy 40,656 35,429
Total GPW 277,373 269,500
NEP 245,795 252,435
Balance on the technical account for general business 8,361 (12,791)
Profit / (loss) for the financial year 8,361 (12,791)
Combined ratio  99.4% 106.6%

Marine & Energy, Cargo & Specie: Cargo is made up of general cargo transit and storage as well as higher value and more complex risks such as satellites, heavy lift, tows and project cargo. Specie includes fine art, metals, securities and vault risk written on an excess basis.

Marine & Energy, Marine & Energy Liabilities: Marine includes the reinsurance of the International Group of P&I Clubs. Energy is only offered in conjunction with Upstream Energy packages.

Marine & Energy, Marine Hull & Liabilities: Insurance of low profile, smaller fleet business and specialized tonnage, with some vessel construction, marine property and marine war.

Marine & Energy, Energy Upstream: Insurance of exploration and production property (on/offshore), control of well, removal of wreck, business interruption, construction and renewable energy from a broad geographic spread.