News Releases

Atrium Underwriters Limited (Atrium), the managing agent for Lloyd’s Syndicate 609, is pleased to announce Total Comprehensive Income of £55 million for 2020. Atrium is rightly proud of the resilience of its entire team and the uninterrupted service it has delivered to brokers and clients despite the pandemic.

Key highlights of the result are:

GBP (£) millions	2020	2019
GWP	633	590
NWP	536	504
Underwriting profit	33	48
Total comprehensive income	55	72
Annualised % investment return	3.5%	3.7%
Combined ratio	93.8%	91.4%

Richard Harries CEO, Atrium Underwriters Limited commented: “£55 million is an impressive profit in the face of a global pandemic and I want to thank the Atrium team for delivering this excellent result. Atrium has always had a flexible approach to working and combined with our high-quality IT infrastructure we were able to move seamlessly to full working from home. This strong foundation allowed us to continue our successful growth trajectory of increasing premium income and attracting more high quality talent throughout 2020.

Our success has been achieved by consistently focusing on underwriting discipline and risk selection across a diverse book, which is delivered by a team of independent thinkers working together in the interests of the whole business. This highly successful approach will continue to deliver profitable growth through 2021 and beyond.”

Toby Drysdale, Active Underwriter, Syndicate 609 added: “Syndicate 609’s 2020 Net Combined Ratio of 93.8% is exceptional in the circumstances and is testament to our commitment to controlled, profitable growth. Even while working remotely we have focused on delivering high service standards and expertise to our brokers and clients. The excellent 2020 result includes a contribution from the 2018 and previous year of account, which closed with a profit representing 7.7% of stamp, maintaining the syndicate's record of unbroken profitability.

During 2020, we have carried rate increases where appropriate at differing paces and levels across individual classes. We are optimistic about 2021 as market conditions remain positive and see a number of promising growth opportunities, which is reflected in our significant stamp capacity increase to £625 million.”

For more information please contact: Sam Whiteley sam@freepartners.com