Beazley announces results for Lloyd’s Syndicate 6107
The board of Beazley Furlonge Limited, managing agency for syndicate 6107, announces the following results on behalf of the syndicate, which writes business on behalf of Names at Lloyd's.
The 2016 underwriting year is now closed and has returned 33.3% on capacity. The 2017 underwriting year has been affected by a number of large catastrophe events and is currently forecasted to close with a loss on capacity of around 20%. The 2018 underwriting year, has been impacted by losses relating to hurricanes Florence and Michael, as well as the Californian wildfires.
Andrew Horton, Beazley Group's chief executive officer, commented: "The return on capacity of 33.3% on the 2016 underwriting year represents an excellent return for members. We continue to see rate increases in catastrophe exposed classes following the loss activity in 2017 and 2018 and are well placed to act on opportunities that arise."