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 2018 underwriting year has now closed with a loss on capacity of 8.9% having been impacted by natural catastrophes including the Californian Wildfires, Hurricane Michael and Typhoon Jebi. The 2019 underwriting year is currently forecast to close with a return on capacity of 5% despite having been impacted by storm Dorian and Typhoon Hagabis and Faxai.
The 2020 underwriting year has been impacted by losses relating to the COVID-19 pandemic as well as hurricanes Laura, Sally, Zeta and Delta.
Andrew Horton, Beazley Group’s chief executive officer, commented,
“The syndicate has returned a loss on capacity of 8.9% on the 2018 underwriting year. While the 2019 and 2020 underwriting years have also been impacted by the COVID-19 pandemic and natural catastrophe losses, we have seen positive rate increases across the cyber and treaty portfolio. Looking ahead to 2021, we anticipate building on these rate increases.”
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