London, UK — AEGIS London, Lloyd’s Syndicate 1225, a subsidiary of AEGIS (Associated Electric & Gas Insurance Services Limited), delivered a combined ratio for 2022 of 83.8% - an improvement of 0.1 on 2021’s ratio of 83.9%.
The Syndicate posted a UK GAAP profit of £97m, up 11% on 2021’s figure of £87m. Premium gross of commissions is £908m, an increase of 17% on 2021’s premium of £774m. The 2020 year of account closed with a profit of £76m up £30m on the reported profit for the 2019 closing year of account of £46m.
Alex Powell, AEGIS London’s CEO said:
“These results reflect our core principle of Underwriting Excellence and Sustainable Profit.
Our strong performance in 2022 continues a long run of profitable results that has its foundations in an established and diversified book of business. This has been matched by taking opportunity across multiple lines in an attractive marketplace.
I am proud of everything that the talented team at AEGIS London continues to achieve”
ENDS
Media contact:
Adrian Beeby, Luther Pendragon
07879 403564
Notes to Editors
AEGIS London operates Lloyd’s Syndicate 1225 and comprises the UK-based subsidiaries of AEGIS (Associated Electric & Gas Insurance Services Limited), a mutual insurance company that serves the needs of the North American energy industry. From its origins in 1999, AEGIS London has become a top quartile diversified Lloyd’s Syndicate, leading and participating in a wide range of business classes with a talented team of over 230 people.