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