Lloyd's reveals 47 syndicates lost over pounds 10m

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The Independent Online
THE official list of best and worst insurance syndicates, published by the Lloyd's insurance market, yesterday showed that 47 lost more than pounds 10m before personal expenses in 1990, the latest underwriting year.

The biggest single loss was by KPH Underwriting Agencies - pounds 127m - although in terms of the loss for each pounds 10,000 share, KPH slipped into second place behind a Gooda Walker syndicate. GW Run-Off lost pounds 53m, representing pounds 87,314 for every pounds 10,000 share against the pounds 29,437 loss for KPH for the same investment.

It was only the second time Lloyd's had published its own list of syndicate performance tables, which were brought out last year as a rival to Chatset, a small publisher specialising in this area.

Critics of the new publication, called Limelight, have described it as a spoiling tactic designed to eat into the market of Chatset, which has published highly critical analyses of Lloyd's.

Another seven syndicates lost more than pounds 10,000 for a pounds 10,000 share in 1990, a year when the majority of syndicates were in the red.

But five syndicates made a surplus of more than pounds 10m before personal expenses, with Janson Green taking top place with pounds 26m.

As a large syndicate with many members, its result for a pounds 10,000 investment was seventh highest at pounds 2,552.

Top performer was AJ Archer, with a pounds 5,854 return. The accounts showed a high proportion of its names - 47 per cent - were working in the insurance market.

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