AEGIS London, operating under Lloyd’s Syndicate 1225, has announced its financial results for the year 2023.
The syndicate reported an improvement in its combined ratio to 79.4%, a decrease from the previous year’s 83.8%.
In financial terms, the syndicate’s profit under UK GAAP soared by 112% to £206 million, up from £97 million in 2022. Its premiums, before commissions, reached £1,040 million, marking a 15% rise from £908 million recorded in 2022.
Alex Powell (pictured above), the CEO of AEGIS London, shared his enthusiasm about the syndicate’s performance in its 25th year of operation.
“Our performance in 2023 continues a long run of profitable years, reflecting our long-term strategic focus on underwriting excellence,” Powell said. “At the heart of our sustained performance is our well-established, diversified book of business, many valued collaborative partnerships, embracing opportunities including digitalisation and using data and, of course, the talented team of people at AEGIS London.”
Bill Hillman, president and CEO of AEGIS, also expressed satisfaction with the syndicate’s performance.
“We are very pleased with the continued success of our syndicate and its ongoing contribution to the mutual’s net income and risk diversification. Its 2023 performance was particularly strong with the year’s minimal catastrophe loss activity,” Hillman said.
The robust financials for AEGIS London follow another major achievement earlier this year. In January, the AEGIS London claims team attained the 2024 London Market Claims Service Quality Marque (claims SQM).
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