London, UK — AEGIS London, Lloyd’s Syndicate 1225, a subsidiary of AEGIS (Associated Electric & Gas Insurance Services Limited), delivered a combined ratio for 2023 of 79.4% - an improvement of 4.4% on 2022’s ratio of 83.8%.

The Syndicate posted a UK GAAP profit of £206m, up 112% on 2022’s figure of £97m. Premium gross of commissions is £1,040m, an increase of 15% on 2022’s premium of £908m.

Alex Powell, AEGIS London’s CEO said:

“I am proud that, in our 25th anniversary year, AEGIS London is among those reporting exceptionally strong results across the market. Our performance in 2023 continues a long run of profitable years, reflecting our long-term strategic focus on underwriting excellence.

At the heart of our sustained performance is our well-established, diversified book of business, many valued collaborative partnerships, embracing opportunities including digitalisation and using data and, of course, the talented team of people at AEGIS London.”

“We are very pleased with the continued success of our Syndicate and its ongoing contribution to the Mutual’s net income and risk diversification. Its 2023 performance was particularly strong with the year’s minimal catastrophe loss activity,” said Bill Hillman, President & CEO of AEGIS.

ENDS

Media contact:

Adrian Beeby, Omnia Partners

07879 403564

adrianbeeby@weareomniapartners.com

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.