Insurance At lloyd's

We currently have one active underwriting member of Lloyd's: Chariot (II) Underwriting Ltd.

The latest estimates for the 2024 Year of Account indicate a positive underwriting performance, with a projected return of approximately 12.2% after early releases, equivalent to around £1.38 million. The mid-point estimate is 12.36% (approximately £1.39 million), with projected returns ranging from 7.63% in the downside case to 17.09% in the best-case scenario.

The outlook has continued to improve despite the impact of significant catastrophe losses during the period, including the Los Angeles wildfires and the Baltimore bridge incident. Improved underwriting conditions, characterised by stronger premium rates, enhanced policy terms and conditions and relatively low levels of major property losses, have contributed to these encouraging estimates.

The latest estimates for the 2025 Year of Account are also encouraging. Based on the most recent projections, the portfolio is expected to generate a return of approximately 14.9% after expenses, equivalent to around £1.8 million. As with all Lloyd's underwriting accounts, these estimates remain subject to change until the account is closed. Current indications are that the favourable underwriting environment has continued, and many syndicates are expected to improve on their initial estimates as the year develops.

We continue to pursue a disciplined underwriting strategy, focusing on long-term profitability and prudent capital management. We also remain open to opportunities to acquire or invest in additional Lloyd's underwriting vehicles where these represent attractive value for shareholders.

To find out more about Lloyd's, please visit https://www.lloyds.com/ or email info@kirly.co.uk.