Cost & Expense Benchmarking for a Lloyds Syndicate April 2012
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Cost & Expense Benchmarking for a Lloyds Syndicate Expense Ratio* - 2010, % (includes
Claims Ratio* - 2010, %
member’s std personal exp) 40%
38.0%
30%
80%
140 120
60%
20% 30.9% 10%
35.5%
37.0%
Cost £K / FTE – 2010
58.4%
100 80
40% 56.0%
57.6%
65.3%
60
69.2%
40
20%
18.7%
100
79.2
98.9
110.3
116.7
AEGIS (1225)
Cathedral (2010)
Omega (958)
20
0%
0% Cathedral AEGIS (2010) (1225) Expense Ratio
Omega (958)
Hardy (382)
0 Hardy (382)
Lloyd's Average (Top 20)
AEGIS Cathedral Omega (1225) (2010) (958)
Claims Ratio
Hardy (382)
Lloyd's Average (Top 20)
Cost £K/FTE
Lloyd's Average^
* Expense Ratio and Claims Ratio have been calculated on Net Premiums Earned; Expense Ratio includes Members standard personal expenses
Administration Expenses ( as a % of Net Earned Premium) – includes member’s std personal exp 16% 14% 12% 10% 8% 6% 4% 2% 0%
Member std personal exp alone contributes to 7.1% of the 14.8% 8.6% 13.0% 4.2%
3.8%
Equity (218)
Cathedral (2010)
5.4% Omega (958) Expense Ratio
7.0%
7.7%
Chaucer* (1084)
AEGIS (1225)
14.8%
9.4%
Hardy (382)
Brit (2987)
Hiscox (33)
Lloyd's Average**
* Admin Expenses include Members Standard Personal Expenses (Lloyd’s subscriptions, New Central Fund Contributions, Managing Agents Fees & Profit Commission). ** Top 50 Syndicates by GWP. Source: Company Annual Report 2010, Lloyds Syndicate Reports, SGS Analysis
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Thank You
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