Insight and Intelligence on the London & International Insurance Markets 24 Apr 2018
AmTrust Syndicate 1206 combined ratio hits 143.7%
- 29 March 2018
AmTrust's Syndicate 1206 losses increased 16-fold year-on-year to hit £64.7mn ($91mn) amid cat losses and intra-company restructuring.
The syndicate's combined ratio deteriorated by 32.7 percentage points in the year to 143.7 percent, its annual report revealed.
AmTrust said the loss was due to property exposure to hurricanes Harvey, Irma and Maria, California wildfires and the Mexican earthquakes.
The net incurred claims ratio worsened by 27.9 percentage points to 97.5 percent year-on-year.
The insurer said that, net of reinsurance, the hurricanes...
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