Antares Syndicate 1274 Posts $41m Profit for H1

The latest results from Antares Syndicate FYI;

Antares Syndicate 1274 at Lloyd’s has posted a UK GAAP profit of $41m for the first half of 2024.

During the first half of the year, the syndicate achieved a net combined ratio (NCR) of 87.7% on gross written premiums of $317m.

Active underwriter Jim Lye said the syndicate had beaten its targets for both planned profit and NCR.

“We saw better than expected performance in our Marine and other short-tail classes,” he said. “This combined with benign cat experience led to these strong results. In addition, we were able to strengthen our reserves in Casualty classes, particularly Excess Casualty.”

Antares 1274 writes a range of Property, Casualty, Marine and Specialty insurance and reinsurance products.