jane-warren-active-underwriter-lsm
15 March 2022Insurance

Liberty Specialty Markets hails rate increases in strong 2021 results

Liberty Specialty Markets (LSM), part of  Liberty Mutual Insurance Group, has reported that Syndicate 4472 achieved solid growth and profits in 2021 driven by significant rate increases and new business opportunities.

Syndicate 4472 posted a pre-tax operating income for 2021 of £89.7 million (2020: £157.1 million). The Syndicate achieved a combined operating ratio of 89.4% compared with 98.5% in 2020. Gross written premium was £1.42 billion, up £59.1m from 2020’s £1.36 billion.

LSM said that the improvement in GWP was driven by significant rate increases and new business opportunities across the portfolio.

Jane Warren (pictured), Active Underwriter at Liberty Specialty Markets, said: “Our excellent 2021 result builds on 2020’s strong performance.

“Our result reflects impressive underlying performance resulting from robust underwriting discipline, focused risk selection and collaboration across the business. Despite larger than expected natural catastrophes, our careful limits management and deliberate deployment of capital allowed us to deliver an improved underwriting return.”

Did you get value from this story?  Sign up to our free daily newsletters and get stories like this sent straight to your inbox.

Already registered?

Login to your account

To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.

Two Weeks Free Trial

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk


More on this story

Insurance
4 May 2022   The new role is designed to support the growth of the insurer’s aviation book.
Insurance
23 March 2022   The executive has over 16 years of industry experience, including seven years at LSM.
Insurance
9 February 2022   LSM has tapped an insider for the role of global head of war and terrorism.