The Lloyd’s syndicates have now published their results for 2021 and, in some cases, added detail and an outlook for 2022. Some have stuck to the bare bones. As last year, IMN is summarizing the results from all syndicates that have a marine interest, which have provided some information on the marine side.
Active Underwriter Daniel Hearsum
The Managing Agent of Ki Syndicate 1618 (the Syndicate) is Brit Syndicates Limited (BSL). Syndicate 1618 is the first fully-digital, algorithmically-driven syndicate at Lloyd’s.
The syndicate said that “in our first year, we have been able to achieve a good spread of business, with an average line size well within our appetite and catastrophe modelling metrics in line with plan.”
|Earned premiums Net||165.6|
|Net Claims Paid||(11.7)|
|Claims incurred Net||(115.2)|
The result for the financial year after investment return was a loss of $15.9m.
Commissions on direct insurance gross premiums written during 2021 were $62.4m.
|Underwriter’s Remuneration||2021 $m|