AEGIS London announces positive full year results

London, UK — AEGIS London, Lloyd’s Syndicate 1225, a subsidiary of AEGIS (Associated Electric & Gas Insurance Services Limited), has announced its financial results for the year ending 31 December 2024.

Highlights are as follows: 

• The syndicate posted a UK GAAP profit of £247m, up 20% on 2023’s figure of £206m.
• Over the year the syndicate achieved a combined ratio of 75.8% - an improvement of 3.6% on 2023's ratio of 79.4%
• Premium gross of commissions was £1,012m.

Alex Powell, AEGIS London’s CEO said:

“Having celebrated 25 years of our syndicate last year, 2024 also marks the 19th consecutive year of profitability for AEGIS London. The scale of our performance is driven by our strategic choice to focus on disciplined underwriting, which is well-understood and expertly executed by our talented team of people.

"Our focus remains firmly on the long-term; continuing to develop our well-established, diversified book of business and collaborative partnerships. Plus, we recently restructured our business to capitalise on the new opportunities we see in enhanced underwriting, leading to the launch of our portfolio solutions division and the expansion of our digital trading offering. These exciting innovations emphasise our continued determination to take intelligent advantage of good opportunities in the market.”

“The valued support of our parent company, the focus on our key strategic priorities and our response to anticipated future market trends stand us in good stead for facing whatever challenges the market environment has ahead.”

“We are very pleased with the continued success of our Syndicate and its ongoing contribution to the mutual’s net income and risk diversification.” said Bill Hillman, President & CEO of AEGIS. “Our syndicate’s continued focus on underwriting excellence is reflected in this sustained run of successful, profitable years.”

ENDS

Media contact:

Adam Holden, Omnia Partners

07917 000028

Adam.holden@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.