Syndicate 2121 reports £100m profit in 2025

Syndicates are now beginning to report year end results, including final results for the 2023 underwriting year and an update on the 2024 year of account alongside calendar year results on a GAAP basis. As managing agents often like to release results alongside the results of the parent company, we do not expect to have a final list for another four weeks.

Argenta Syndicate Management Limited is the first to report results this year and has got the reporting season off to a very encouraging start. For the calendar year ended 31 December 2025, the syndicate has declared a profit of £100m at a combined ratio of 91.4% (2024 result was a profit of £106m at a combined ratio of 88.0%).

On an underwriting account basis, the result for 2023 and the updated forecast for 2024 are as follows:

Syndicate results and forecasts are expressed as a percentage of allocated capacity and after deduction of all standard personal expenses, but before members’ agents’ fees. A forecast for the 2025 year of account will be released in May following review of data to 31 March 2026.