AEGIS London has reasons to smile – among them the 23% rise in its gross written premium (GWP) to £462 million.
For 2017, given how catastrophe-laden the year was, the Lloyd’s syndicate was happy to report a combined ratio of 99%. Not to mention it holding reserves at what the firm described as a “strong and healthy” margin, about 10% in excess of actuarial best estimates.
“This is a strong set of results, delivered in the face of substantial headwinds,” noted managing director David Croom-Johnson. “We have consistently sought to take a thoughtful and prudent approach to our underwriting and to build resilience via the depth and breadth of our offering. It is this careful and balanced approach right across the syndicate that underpins our consistently strong performance.”
The Lloyd’s underwriting agent for Syndicate 1225, AEGIS London also announced a stamp capacity of £400 million for 2018, an increase of 21% compared to the previous year.
“In delivering a positive underwriting result, our teams have performed exceptionally well and we are delighted with the ongoing contribution made by OPAL, our online platform that allows coverholders and wholesale brokers to quote and bind business in a couple of minutes,” said Croom-Johnson. “We intend to broaden the OPAL product offering during 2018 as the demand for it has far exceeded our expectations.”
Launched in 2016, the online quote-and-bind system is part of AEGIS London’s drive for distribution innovation.