QBE Syndicate 2999 reports 98.4% CoR as net claims ratio rises
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QBE Syndicate 2999 reports 98.4% CoR as net claims ratio rises

Abbie Wood
03 April 2023
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QBE Syndicate 2999 has reported a combined ratio of 98.4% for 2022, marking a deterioration of 1.9 percentage points on 2021, as the carrier’s cat losses came in higher than expectations.

The syndicate’s overall loss for the year was £96.6mn ($119.62m), following a £17.5mn profit in 2021. Its net underwriting profit dropped 46% to £20.5mn

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