Insight and Intelligence on the London & International Insurance Markets 24 Apr 2018
ILS syndicates report 2017 losses
- 3 April 2018
The Lloyd's syndicates of insurance-linked securities (ILS) managers all made a loss in 2017 in the wakes of hurricanes Harvey, Irma and Maria.
Nephila's Lloyd's Syndicate 2357 reported a $120.6mn loss in 2017 as its combined ratio soared to 167 percent.
The losses were driven by the syndicate's MGA insurance business, which made an underwriting loss of $132.1mn on gross claims of $216mn.
By contrast, its reinsurance segment made a $9.8mn profit, as reinsurance recoveries of $26.0mn helped reduce $129.7mn...
- If you are a non-subscriber but would like to be able to view this article, then please go to our Publications page for further information on joining our readership
- Login Free trial