Ahead of plan and a 23% increase on the prior year, it’s fair to say that AEGIS London has bucked the Lloyd’s market trend with its latest results.
The firm delivered a combined ratio of 99% in 2017 for Syndicate 1225 – that’s 15% better than the Lloyd’s market overall. Its gross written premium came in at £462 million prompting AEGIS London managing director David Croom-Johnson (pictured) to highlight what has become a consistent theme for the insurer.
“AEGIS has outperformed the market in nine of the last 10 years and has done so by well over 10% in each of the last three,” he said. “The recipe for this consistency of performance is a careful and balanced approach built on thoughtful and prudent underwriting and the depth and breadth of our offering.
“We have become an attractive home for talent as we expand our product offering and grow out our existing book, and we expect that to continue next year. We want people to pick up the phone and talk to us about how they can help us build our business. We are expanding our stamp capacity for 2018 by 21% to take advantage of market opportunities.”
As for the Lloyd’s market as a whole, the MD believes there are vital issues that need to be looked at.
“Clearly the result for the Lloyd’s market as whole was disappointing,” he said. “Even though last year was exceptional in terms of catastrophes, the results were still weak. This reveals some core issues in a number of businesses in the market, issue which need to be addressed if the Lloyd’s brand is to flourish in the future.”