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Growth in property income was offset by a reduced share of finpro business. -
The syndicate's GWP increased from £51.6mn in 2022 to £141.9mn.
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The syndicate posted a combined ratio of 84.6% and GWP of more than £1.2bn.
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Work is still to be done on the investor proposition, expenses, and navigating a waning pricing cycle.
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CFC noted that growth moderated amid increased competition in cyber.
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The syndicate reported profit up 44.7% to $153mn for the year.
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Lloyd’s gains leadership, and The Fidelis Partnership gets capital diversification.
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The executive said Aviva and Fidelis had endorsed the market’s turnaround.
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Atrium reserved £264.5mn for potential claims resulting from leased aircraft in Russia.
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Active underwriter Smelt said competitors’ ‘blanket’ approaches are creating opportunity.
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Combined ratios have improved as prices rise and investments return to profit.
