Cost & Expense Benchmarking for a Lloyds Syndicate April 2012
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Cost & Expense Benchmarking for a Lloyds Syndicate Expense Ratio* - 2010 (%)
Claims Ratio* - 2010 (%)
(includes member’s std personal exp)
40%
38.0%
30%
Cost £K / FTE – 2010
80% 60%
20% 30.9% 10%
35.5%
37.0%
40% 20%
18.7%
0%
58.4% 65.3%
69.2%
56.0%
57.6%
Hardy (382)
AEGIS Cathedral Omega (1225) (2010) (958)
0% Cathedral AEGIS (2010) (1225) Expense Ratio
Omega (958)
Hardy (382)
Lloyd's Average (Top 20)
Claims Ratio
140 120 100 80 60 40 20 0
100
79.2
Hardy (382)
Lloyd's Average (Top 20)
98.9
110.3
116.7
AEGIS (1225)
Cathedral (2010)
Omega (958)
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 Premiums) – include members’ std personal exp 20%
Member std personal exp alone contributes to 7.1% of the 14.8%
15% 8.6%
10% 5% 3.8%
5.4%
7.0%
7.7%
9.4%
4.2% Equity (218)
Cathedral (2010)
Omega (958)
Chaucer* (1084)
AEGIS (1225)
Hardy (382)
13.0%
14.8%
Brit (2987)
Hiscox (33)
0%
Expense Ratio
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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