Benchmarking platform Insurance DataLab, which rates UK and Gibraltar-regulated general insurance businesses across three key metrics to assess underwriting performance, has named the best underwriters in the UK and Gibraltar.
Among UK non-life insurers, Starr International (Europe) emerged on top, following a comprehensive review of solvency and financial condition reports across the market.
The company secured an underwriting rating of 79%, claiming the highest position for the first time and winning its second Gold Award, having ranked fourth the previous year.
Aside from Starr International (Europe), the other 2024 Gold Award recipients are Hiscox Insurance (73%), Sabre (71%), Allianz Insurance (71%), Ecclesiastical (71%), AXA XL UK (71%), and Admiral UK (71%).
“It’s fantastic to see Starr International (Europe) leading the way in underwriting excellence,” said Insurance DataLab co-founder Matt Scott. “Their consistent performance in a highly competitive market sets them apart and highlights their commitment to delivering strong underwriting results.
“We would also like to congratulate our other Gold Award winners on their achievements – the UK insurance market continues to face significant headwinds, so it is fantastic to see these companies delivering excellent results despite these challenges.”
Gibraltarian insurers, meanwhile, were bested by WDP Insurance, which earned an underwriting rating of 82% after placing third in 2023. This year’s top performer in Gibraltar is followed by Alwyn (72%), Acasta European Insurance (72%), Haven (72%), and Trinity Lane (71%).
The ratings are based on combined operating ratio (COR), three-year aggregate COR, and COR improvement over the last 12 months.
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