Lloyd's releases 2023 and 2024 syndicate forecasts as at Q2 2025

Lloyd’s has released forecasts for all syndicates supported by third party members in the 2023 and 2024 years of account.

The 2023 year of account is one of the best underwriting years in recent times, when there was a lower than average incidence of major loss coinciding with strong underwriting conditions. There has been another improvement in the forecast, which comes despite an adverse movement in rate of exchange.

The 2024 year of account is at a younger stage of development than 2023. Managing agents hold their forecasts in a wide range between best and worst projected outcome. The forecast has also improved in the past quarter. 2024 was a more active year from both a natural catastrophe and man-made loss perspective. There was a series of hurricanes, including hurricane Helene and Milton, which both hit Florida, the collision of the container ship Dali with a bridge in Baltimore, and the crowdstrike botched cyber upgrade. Under the year of account conventions, where premiums and claims are attributed to the year of a policy’s inception date, the bulk of claims for the wildfires in Los Angeles in January this year fall to the 2024 year.

Lloyd’s will announce the market results for the half year to 30 June 2025 on Thursday 4^th September.

A full schedule of forecast results is available here.