London, UK — Against a backdrop of difficult market conditions and a challenging business review process at Lloyd’s, AEGIS London expects to grow Syndicate 1225 by 5% in 2019 following another profitable year.
AEGIS London delivered a combined ratio of 94%, and profits of £22m for 2018 – 32% ahead of its 2017 result despite above-average catastrophe losses in the market. Over 90% of the result came from underwriting profit.
David Croom-Johnson, AEGIS London’s managing director said: “We are pleased to have outperformed the market once again. Our consistent adoption of disciplined profitable growth means that our people develop as our business grows.
“Following the business planning process at the end of last year, we have maintained our presence in all the classes of business we wrote in 2018. This provides great continuity for our brokers and their clients. Our investment in OPAL, an award-winning online quote-and-bind platform, is bringing new business into the market and this will expand further as we increase its product range during 2019.
“We remain strongly positioned across our entire business to take advantage of more favourable market conditions. We will continue to seek new talent as we expand our product offering and grow our existing book.”
Adrian Beeby, Luther Pendragon
020 7618 9157
Notes to Editors
AEGIS London is the UK-based subsidiary of AEGIS (Associated Electric & Gas Insurance Services Limited), a mutual insurance company that serves the needs of the energy industry. It operates the AEGIS London Syndicate 1225 at Lloyd's.
AEGIS London has grown from its origins as an energy insurance specialist and is today a successful, diversified business, leading and participating in a wide range of classes traditionally written in the Lloyd's market. With over 130 people in its team in London and two in Canada, the business continues to develop its capabilities in new business lines, bringing its unique, collaborative style to new clients and new classes, while operating for the mutual benefit of all involved.