Beazley announces results for Lloyd’s Syndicate 5623
The board of Beazley Furlonge Limited, managing agency for syndicate 5623, announces the following results on behalf of the syndicate, which writes business on behalf of Names at Lloyd’s.
The 2018 underwriting year has now closed with a return on capacity of 3.2%. The 2019 underwriting year is currently forecast to close with a return on capacity of 2% despite being impacted by losses relating the COVID-19 pandemic. The 2020 underwriting year is showing increased premium growth in line with the strong syndicate growth plans expected.
Andrew Horton, Beazley Group’s chief executive officer, commented,
“The syndicate has closed with a return capacity of 3.2% on the 2018 underwriting year. Both the 2019 and 2020 underwriting years have shown strong growth and this growth is expected to continue into 2021.”
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