Atrium announces Year End Results

The final results for the 2012 year of account and forecast results for the 2013 year of account of Syndicate 609 are as follows:

2012 Year of Account

The 2012 year of account results are as follows:

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2013 Year of Account

Our updated forecast ranges for the 2013 year of account (including estimates of prior year movements) are as follows:

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All forecasts are shown as a percentage return on allocated capacity after deduction of standard personal expenses, but before members’ agents’ fees, and are subject to usual caveats and possible revision.  

2014 Annual Accounting Result

  • Profit £56.8M (2013 £68.5M)
  • Gross Written Premium is £365.0m (2013 £378.5m)
  • Combined Ratio of 84% (2013 79%)
  • Investment return for the year at £5.7m (2013 £0.2m loss)

“This is another very good set of results from Atrium. The 2012 Year of Account result of 17.7% Return on Capacity is particularly noteworthy as it was the first result produced following the merger of the Atrium Syndicates 609 and 570.

For our Annual Accounted Result the combined ratio of 84% is strong and has benefitted from the recent introduction of new lines of business, growth in our US P&C book and strong performance from our Energy, Marine and Property lines.

Our continued focus on the bottom line, pursuit of operational excellence and ability to attract and retain high quality underwriting talent will enable Atrium to remain a key player in an evolving London insurance market.”

Richard Harries; Atrium CEO and Active Underwriter

Appointment of Stephen Riley as Independent Non-Executive Director, Atrium Board

“Stephen Riley will be joining the board of Atrium as an INED, with effect from 1st April, 2015, subject to regulatory approval. Stephen will be an excellent addition to the board and it is testament to the strength of Atrium that we were able to attract such a high quality individual.”

Stephen graduated from Christ’s College Cambridge and has had a long and successful career commencing with Swiss Re Company (UK) in 1977, and more recently with Global Aerospace. He was Chairman of the LMG from 2011 to 2013, having been a member of MRG/LMG from 2004 to the current time. He was a board member of the ABI from 1996 to 1998 and is the current President of the Insurance Institute of London.              

Stephen replaces Scott Moser who has been an Independent Non-Executive Director at Atrium since 2008 and will be stepping down from the Board at the end of March.

Richard Harries; Atrium CEO and Active Underwriter

For further information, please contact:

Atrium Underwriters Limited 020 7327 4877

James Lee, Managing Director

Richard Harries, Syndicate 609, Active Underwriter