Syndicate results 2021 #54 HCC 4141

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.

Tokio Marine HCC publishes its Syndicate report in jpg rather than text.pdf. Therefore the numbers have to be copied manually. Errors & omissions excepted.

Active Underwriter   SA Button

KPIs

£m 2021 2020
GWP 171.5 161.6
U/W profit 5.1 (1.7)
FY Profit 4.8 2.0
CR 96.1% 101.4%
Inv ret (0.2) 3.4

The energy and marine division comprises marine hull, marine liability, marine cargo and energy

GWP across these businesses was £45.3m, up from £29.3m the previous year. This was due to the marine cargo account, which commenced underwriting in September 2021, plus growth in marine liability.

Segmental analysis

2021 £000s GPW GPE GCI Op Exps Reins Bal Total
MAT 33,965 25,651 (8,233) (8,269) (5.085) 4,064
Total Direct 141,283 127,360 (77,889) (52,808) 7,763 4,426
Reinsurance 30,193 30,083 (34,605) (8,421) 13,579 636
Total 171,476 157,443 (112,494) (61,229) 21,342 5,062
2020 £000s GPW GPE GCI Op Exps Reins Bal Total
MAT 12,323 7,179 (2,588) (3,514) 339 1,416
Total Direct 124,189 110,250 (142,835) (46,189) 77,310 (1,464)
Reinsurance 37,379 37,024 (26,889) (7,933) (2,483) (281)
Total 161,568 147,274 (169,724) (54,122) 74,827 (1,745)

The active underwriter was paid £103,427 (2020: £177,473).

https://assets.lloyds.com/media/aaa24ec1-27b4-463b-8f5c-825f846a4f41/SRA4141a.pdf