Analysis of the Lloyd’s market, based on annual filings published on the Lloyd’s website (Lloyd’s syndicate reports and accounts) reveals that in 2023 there were 57 managing agencies and 109 syndicates operating in the market.
The number of managing agents fluctuates between 55 and 59 in the years 2016 to 2023 (see chart).
However, the figures do not fully reflect the market movements.
For example, in 2020, 55 managing agents filed reports. In 2021 there were 57.
Yet, the difference masks the fact that in 2021 five managing agents joined the market (including: AXA XL Underwriting Agencies Limited, Enstar Managing Agency Limited and Inigo Managing Agent Limited) and three exited the market (ERS Syndicate Management Limited, Neon Underwriting Limited and StarStone Underwriting Limited).
Number of Lloyd’s syndicates
A similar variance is found in the number of Lloyd’s syndicates, which fluctuates between 109 to 115 in the years 2016 to 2023. In 2023 there were 109 Lloyd’s syndicates.
The size of the sample by total assets has risen from GBP 67 billion in 2016 to GBP 112 billion in 2023.
Full details of the figures are available on request to subscribers of the Solvency II Wire Data service. To find out more click here.
The figures are as at the time of publishing.
More information about the data is available to premium subscribers of Solvency II Wire Data and subscribers to Solvency II Wire‘s exclusive SFCR Spotlight mailing list (subscribe for free here).
Datasets available on Solvency II Wire Data
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- Swiss Solvency Test (SST): all available data 2016 – 2023
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- Bermuda Financial Conditions Reports (BSCR): all available data 2016 – 2023
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- Bermuda Financial Statements: data for 226 insurers 2016 – 2023 (1324 reports) selected tables
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- Israel Economic Solvency Ratio Reports: all available data 2016 – 2022
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- Lloyd’s Syndicate filings: data for 143 syndicates 2016 – 2023 (872 reports) selected tables
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- SOLVENCY II WIRE DATA Captive Hub
