Axa XL Syndicate 2003 rebounds to 75% combined ratio for 2021

31 March 2022

Axa XL Syndicate 2003 has ended its years-long streak of unprofitability with a combined ratio of 75% and a bottom-line profit of £267mn ($352mn) for 2021.

The combined ratio result is a 59-point improvement on the 2020 figure of 134%. Last year, the syndicate reported a full-year loss of £444mn.

The

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