Syndicate results 2021 #42 Everest 2786 (Asta)

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

R Crocker (appointed 31/01/2022)

N Lightbown (resigned 31/01/2022)

The result for calendar year 2021 was a profit of £5,339,863 (2020: loss of £52,418,705).

The Syndicate writes predominately Third-Party Liability insurance, mainly in the UK.

The capacity for the 2022 year of account is £200.0m (2021 year of account £150.0m).

KPIs

£000s 2021 2020 Change
Gross written premiums 190,429 173,762 9.6%
P/L for the financial year 5,340 (52,419) 110.2%
Combined ratio 96.1% 139.8% 43.7pp

Segmental Anaysis

2021 £000s GPW GPE GCI Op Exps Reins Bal Total
Direct Marine 411 194 (38) (93) (16) 47
Energy – Marine 21 12 (25) 2 1 (10)
Total Direct 161,982 161,429 (92,013) (54,007) (13,342) 2,067
Reinsurance 28,447 28,219 (10,339) (8,060) (5,632) 4,188
Grand Total 190,429 189,648 (102,352) (62,067) (18,974) 6,255
2021 £000s GPW GPE GCI Op Exps Reins Bal Total
Direct Marine 44 46 (20) (28) (5) (7)
Energy – Marine 4 17 (7) (5) (1) 4
Total Direct 146,673 136,732 (128,189) (48,498) (467) (40,422)
Reinsurance: 27,089 27,891 (28,952) (10,637) (1,256) (12,954)
Total 173,762 164,623 (157,141) (59,135) (1,723) (53,376)

The Active Underwriter received the following aggregate remuneration, charged as a Syndicate expense:

£000s 2021 2020
Active Underwriter’s emoluments 467 904

https://assets.lloyds.com/media/4dd5d5b7-97ed-4fb9-81b0-cfd7562b9eea/SRA2786a.pdf