AEGIS London, which has asked most of its staff to work from home until further notice amid the coronavirus pandemic, is the bearer of good news this week.
According to the Lloyd’s managing agency, its managed syndicate posted a 7% rise in profit to £31.1 million despite recording £5 million in foreign exchange losses. Gross written premium, meanwhile grew 18% to £653.2 million.
“This is a strong result driven by a focus on disciplined underwriting in a rising market and good investment returns,” explained AEGIS London managing director David Croom-Johnson (pictured).
“Our combined ratio (96.8%) is better than that achieved by many other London market players and points to controlled profit growth, an emphasis on portfolio management, and a conservative reserving philosophy.”
Croom-Johnson said all of the above had seen AEGIS London place in the top quartile of Lloyd’s performers for a decade.
The MD added: “In the long term, our strategy remains founded on a two-pronged approach: writing complex risks in the traditional Lloyd’s manner while bringing new business into the market via our award-winning quote and bind platform Opal – business that would not normally be written in London.
“AEGIS London is well placed to take advantage of the opportunities that are being presented to us in an improving underwriting landscape.”
