2023 Syndicate Results
Syndicate annual results ranged from a profit of 153% NPE (Net Premium Earned) to a loss of 15% NPE1 for those syndicates trading in 2023.
The overall market weighted average profit2 for syndicates trading in 2023 (excluding RITC syndicates) was 22.5% of NPE.
The weighted average overall results2 by quartile were:
Top quartile +35.9% NPE
Second quartile +22.5% NPE
Third quartile +17.1% NPE
Fourth quartile +6.5% NPE
The overall profit2 for the bottom quartile of syndicates, representing 12% of total NPE, represented 3% of the overall market profit for those syndicates trading in 2023.
1 Results excluding RITC, Syndicate In A Box, first year syndicates and LPT-affected results.
2 Excluding capital-related returns (primarily investment returns on Funds at Lloyd’s deposited at the syndicate level); a limited number of syndicates hold capital at the syndicate level and these returns have been excluded to achieve comparability between syndicates.
Independent and Experienced in Lloyd’s Syndicate Research
Syndicate Research Limited (SRL) provides in-depth research, analysis and commentary on all trading syndicates operating in the Lloyd’s of London insurance market.
Syndicate Continuity Opinions (SCOs) – taking into account cross-cycle Returns on Capital and Group support – have been assigned to active syndicates representing some 65% of the market’s capacity, with quantitative Scorecard Indicators assigned to syndicates representing c.94% of the market’s capacity.
Our clients include several of the main Lloyd’s brokers who have valued our research input for over 20 years.
With a combined experience of the Lloyd’s market of over 50 years, our team produces research which is used by clients the world over.
We value our independence; we do not accept payment from the syndicates or managing agents for coverage of their businesses.
Date | Document Type | Title | |
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26 Jul 2024 | Syndicate Profile | Syndicate 0435 | |
26 Jul 2024 | Syndicate Profile | Syndicate 1301 | |
26 Jul 2024 | Syndicate Profile | Syndicate 2001 | |
25 Jul 2024 | Syndicate Profile | Syndicate 1200 | |
25 Jul 2024 | Data / Peer Analysis | Syndicate Peer Analysis | |
25 Jul 2024 | Syndicate Profile | Syndicate 1458 | |
25 Jul 2024 | Syndicate Profile | Syndicate 2019 | |
25 Jul 2024 | Syndicate Profile | Syndicate 1183 | |
24 Jul 2024 | Syndicate Profile | Syndicate 1609 | |
24 Jul 2024 | Syndicate Profile | Syndicate 1084 | |
24 Jul 2024 | Syndicate Profile | Syndicate 1176 | |
24 Jul 2024 | Syndicate Profile | Syndicate 1414 | |
24 Jul 2024 | Syndicate Profile | Syndicate 0457 | |
23 Jul 2024 | Syndicate Profile | Syndicate 2786 | |
23 Jul 2024 | Syndicate Profile | Syndicate 6104 | |
23 Jul 2024 | Syndicate Profile | Syndicate 3624 | |
23 Jul 2024 | Syndicate Profile | Syndicate 0033 | |
23 Jul 2024 | Syndicate Profile | Syndicate 0727 | |
22 Jul 2024 | Syndicate Profile | Syndicate 5183 | |
22 Jul 2024 | Syndicate Profile | Syndicate 2988 | |
22 Jul 2024 | Syndicate Profile | Syndicate 2987 | |
22 Jul 2024 | Syndicate Profile | Syndicate 1618 | |
16 Jul 2024 | Syndicate Profile | Syndicate 1796 | |
16 Jul 2024 | Syndicate Profile | Syndicate 4747 | |
16 Jul 2024 | Syndicate Profile | Syndicate 5000 | |
16 Jul 2024 | Syndicate Profile | Syndicate 1967 | |
16 Jul 2024 | Syndicate Profile | Syndicate 2015 | |
16 Jul 2024 | Syndicate Profile | Syndicate 1947 | |
15 Jul 2024 | Syndicate Profile | Syndicate 1492 | |
15 Jul 2024 | Syndicate Profile | Syndicate 2024 | |
10 Jul 2024 | Syndicate Profile | Syndicate 1225 | |
10 Jul 2024 | Syndicate Profile | Syndicate 1686 | |
08 Jul 2024 | Lloyd's Market Information | Syndicates Trading 1993 and Subsequent | |
04 Jul 2024 | Syndicate Profile | Syndicate 4472 | |
01 Jul 2024 | Syndicate Profile | Syndicate 1945 | |
26 Jun 2024 | Syndicate Profile | Syndicate 3123 | |
24 Jun 2024 | Lloyd's Market Information | Indicative Syndicate Capacities | |
24 Jun 2024 | Syndicate Profile | Syndicate 4444 | |
24 Jun 2024 | Syndicate Profile | Syndicate 1966 | |
21 Jun 2024 | Syndicate Profile | Syndicate 1100 | |
18 Jun 2024 | Syndicate Profile | Syndicate 0382 | |
16 Jun 2024 | Data / Peer Analysis | Syndicate-Peer-Analysis_Public-40 | |
16 Jun 2024 | Data / Peer Analysis | Lloyd's Syndicate Peer Data | |
16 Jun 2024 | Lloyd's Market Information | Managing Agent Forecasts | |
03 Jun 2024 | Syndicate Profile | Syndicate 3939 | |
08 Apr 2024 | Syndicate Profile | Syndicate 2050 | |
16 May 2024 | Syndicate Profile | Syndicate 2427 | |
10 May 2024 | Lloyd's Market Report | Lloyd’s Monitor May 2024 | |
10 Oct 2014 | Explanatory Notes | Profiles Explanatory Notes | |
09 May 2024 | Syndicate Profile | Syndicate 2454 | |
01 May 2024 | Lloyd's Market Report | Lloyd's FY Results 2023 | |
12 Apr 2024 | Lloyd's Market Information | Lloyd's Global Results | |
12 Apr 2024 | Lloyd's Market Information | Underwriting Results by Syndicate | |
08 Apr 2024 | Lloyd's Market Information | Syndicate Annual Results | |
28 Mar 2024 | Syndicate Profile | Syndicate 2019 | |
27 Mar 2024 | Syndicate Profile | Syndicate 3623 | |
27 Mar 2024 | Syndicate Profile | Syndicate 1969 | |
27 Mar 2024 | Syndicate Profile | Syndicate 1971 | |
27 Mar 2024 | Syndicate Profile | Syndicate 4711 | |
06 Mar 2024 | Syndicate Profile | Syndicate 1492 | |
06 Mar 2024 | Syndicate Profile | Syndicate 2024 | |
22 Feb 2024 | Syndicate Profile | Syndicate 1880 | |
22 Feb 2024 | Syndicate Profile | Syndicate 0510 | |
15 Feb 2024 | Lloyd's Market Report | Lloyd’s Monitor February 2024 | |
14 Feb 2024 | Syndicate Continuity Opinions Executive Summary | Summary Continuity Opinions Research | |
14 Feb 2024 | Lloyd's Market Information | Syndicates and Sub-Syndicates Trading at Lloyd's | |
14 Feb 2024 | Lloyd's Market Information | Managing Agencies Trading at Lloyd's | |
14 Feb 2024 | Syndicate Profile | Syndicate 1996 | |
13 Feb 2024 | Syndicate Profile | Syndicate 6134 | |
13 Feb 2024 | Syndicate Profile | Syndicate 6117 | |
13 Feb 2024 | Syndicate Profile | Syndicate 6107 | |
13 Feb 2024 | Syndicate Profile | Syndicate 6104 | |
13 Feb 2024 | Syndicate Profile | Syndicate 6103 | |
13 Feb 2024 | Syndicate Profile | Syndicate 5886 | |
13 Feb 2024 | Syndicate Profile | Syndicate 5623 | |
13 Feb 2024 | Syndicate Profile | Syndicate 5183 | |
13 Feb 2024 | Syndicate Profile | Syndicate 5000 | |
13 Feb 2024 | Syndicate Profile | Syndicate 4747 | |
13 Feb 2024 | Syndicate Profile | Syndicate 4711 | |
13 Feb 2024 | Syndicate Profile | Syndicate 4472 | |
13 Feb 2024 | Syndicate Profile | Syndicate 4444 | |
13 Feb 2024 | Syndicate Profile | Syndicate 4242 | |
13 Feb 2024 | Syndicate Profile | Syndicate 4141 | |
13 Feb 2024 | Syndicate Profile | Syndicate 4020 | |
13 Feb 2024 | Syndicate Profile | Syndicate 4000 | |
13 Feb 2024 | Syndicate Profile | Syndicate 3902 | |
13 Feb 2024 | Syndicate Profile | Syndicate 3624 | |
13 Feb 2024 | Syndicate Profile | Syndicate 3623 | |
13 Feb 2024 | Syndicate Profile | Syndicate 3622 | |
13 Feb 2024 | Syndicate Profile | Syndicate 3456 | |
13 Feb 2024 | Syndicate Profile | Syndicate 3010 | |
13 Feb 2024 | Syndicate Profile | Syndicate 3002 | |
13 Feb 2024 | Syndicate Profile | Syndicate 3000 | |
13 Feb 2024 | Syndicate Profile | Syndicate 2999 | |
13 Feb 2024 | Syndicate Profile | Syndicate 2988 | |
13 Feb 2024 | Syndicate Profile | Syndicate 2987 | |
13 Feb 2024 | Syndicate Profile | Syndicate 2880 | |
13 Feb 2024 | Syndicate Profile | Syndicate 2791 | |
13 Feb 2024 | Syndicate Profile | Syndicate 2786 |