News Releases

Atrium Underwriters Limited (Atrium), the managing agent for Lloyd’s Syndicate 609, is today announcing its annual results for the year with Total Comprehensive Income of £68 million for 2021, compared to £55 million in 2020. Atrium is also reporting closing 2019 YOA with a profit of 6.2% of capacity.

Key highlights of the result are:

GBP (£) millions	2021	2020
Gross Written Premium	711	633
Net Earned Premium	590	536
Underwriting profit	71	33
Total comprehensive income	68	55
Annualised % investment return	-0.2%	3.5%
Combined ratio	88.0%	93.8%

 

Richard Harries, CEO, Atrium Underwriters Limited, commented: "Atrium continues to deliver year on year profitable growth and we are pleased to be reporting a profit figure of £68 million today, despite insured losses from natural catastrophes exceeding $105bn in 2021, making it one of the costliest years on record. This success is a direct result of the hard work and dedication of the Atrium team who have been relentless in continuing to deliver against our business strategy. Our empowered team have continued to secure opportunities which demonstrates the commitment to controlled, profitable growth across the business.

"Our ongoing investment into IT infrastructure and our people have enabled Atrium to continue to work flexibly as well as drive our growth agenda. We continue to attract great talent into our business which will allow us to satisfy our growth ambitions for 2022 .We are excited about the opportunities ahead as we seek to continually improve our business."

Toby Drysdale, Active Underwriter, Syndicate 609 added: "Syndicate 609 has yet again delivered another excellent result, both on a Year of Account and GAAP basis. I am immensely proud of our continued profitable underwriting performance. COVID continued to bring disruption to our lives during 2021, but all our staff showed huge commitment, resilience and dedication, and this allowed us to deliver high service levels and underwriting expertise to our brokers and clients."

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