Financial Analysis Market Report

Financial Analysis Market Report

Executive Summary
  • Total premium registered from January through August 2022 (YTD 2022) was $7.9 billion for companies on the LASLI and $3.1 billion for companies (primarily Lloyd’s) not on the LASLI. Premiums from LASLI and Non-LASLI companies increased by 29.3% and 46.7%, respectively, compared to the same period in 2021.
  • All LASLI insurers with a financial strength rating from AM Best are rated A- (Excellent) or better. There are three groups with negative outlooks, one under review with negative implications, and one LASLI insurer with a rating downgraded
  • Total number of LASLI companies was 134 as of August 31, 2022, an increase of four from August 31, 2021.
  • Nine companies applying for the LASLI are in the pipeline—two are currently with the California Department of Insurance (CDI), seven are being reviewed by the SLA. One withdrew on September 9, 2022.
  • Core Specialty Insurance Holdings, Inc. completed its acquisition of Hallmark Financial Services, Inc.’s excess & surplus lines operations for approximately $40 million in cash.

Premium Registered – 2022 (January through August)
Total Premium
Registered ($000's)		Market ShareInsurer Count As Of
YTD 2022YTD 2021YTD 2022YTD 20218/31/20228/31/2021
LASLI Insurers
US Insurers7,548,6735,877,74368.0%70.9%114111
Non-US Insurers (all IID listed)346,035229,5803.1%2.8%2019
SUBTOTAL7,894,7086,107,32371.2%73.6%134130
Non-LASLI Insurers
Lloyd's Syndicates1,567,2841,304,85314.1%15.7%
US Insurers1,035,810592,9919.3%7.1%
Non-US Insurers532,928242,8854.8%2.9%
Others (Suspense, Unknown Insurer, etc.)13,5656,4950.1%0.1%
SUBTOTAL3,149,5882,147,22428.4%25.9%
TOTAL - LASLI/Non-LASLI Insurers11,044,2968,254,54699.5%99.5%
Taxable Fees50,46840,8600.5%0.5%
TOTAL - Premium And Fees Registered ¹11,094,7648,295,406100.0%100.0%

1 Totals may not equal the sum of components due to rounding.

Note: The breakdown of premium registered for prior year by insurer type is based on insurers’ status as of the prior year.

The LASLI company insurer count includes all companies on the LASLI regardless of whether they had premium registered.

  • Total premium and fees registered through August 2022 increased 33.8% year-to-date compared to the same period prior year.
  • Premium registered from LASLI insurers is primarily from US ($7.5 billion) versus Non-US ($0.3 billion) companies.
  • As of August 31, 2022, the count of LASLI insurers is up by four from August 31, 2021, to 134.
  • Premium registered from Non-LASLI insurers continue to be led by Lloyd’s syndicates ($1.6 billion, up 20.2% from $1.3 billion in the same period for 2021).  
  • Besides Lloyd’s, the following Non-LASLI insurers had significant premiums registered: Associated Electric & Gas Insurance Services Ltd. (Non-US; $219.2 million), Blue Hill Specialty Insurance Company Inc. (US; $189.2 million), Kinsale Insurance Company (US; $131.4 million), and Trisura Specialty Insurance Company (US; $110.1 million).
  • SLA Financial Analysis Department monitors LASLI insurers closely—a benefit to the broker community as well as to the California home state insureds. Non-LASLI insurers with a significant California market presence are monitored, though reviews are more cursory.


LASLI Applicants
InsurerUltimate ParentApplication Status
Professional Security Insurance CompanyMAG Mutual Holding CompanyAdded to the LASLI on 6/3/2022
QBE Europe SA/NVQBE Insurance Group LimitedAdded to the LASLI on 6/3/2022
Clear Blue Specialty Insurance CompanyPBRA (Cayman) CompanyAdded to the LASLI on 6/27/2022
American Inter-Fidelity ExchangeAmerican Inter-Fidelity CorporationPending CDI CAB's review
Transverse Specialty Insurance Company Virgo Transverse Core, LLCPending CDI CAB's review
Third Coast Insurance CompanyBlue Cross Blue Shield of Michigan Mutual Insurance CompanySLA review in progress
Harleysville Insurance Company of New YorkNationwide Mutual Insurance CompanySLA review in progress
Summit Specialty Insurance CompanyMcCarthy Group, LLCSLA review in progress
Trisura Specialty Insurance CompanyTrisura Group Ltd.SLA review in progress
Homesite Insurance CompanyAmerican Family Insurance GroupSLA review in progress
Fireman's Fund Indemnity CorporationAllianz SESLA review in progress
Spinnaker Specialty Insurance CompanyHippo Holdings IncSLA review in progress
Texas Insurance CompanyAU Holding Company, Inc.Application withdrawn on 9/9/2022
  • CDI is reviewing two LASLI application and the SLA is reviewing seven other LASLI applications.
  • Three LASLI applications were added to the LASLI in June 2022.
LASLI Withdrawals Since NRRA in 2011
Insurer TypeTotalWithdrew Due to NRRAWithdrew from Surplus Line MarketWithdrew for Other Reasons
Non-US201073
US191414
SUBTOTAL
39111117
Lloyd's Syndicates787800
TOTAL
117891117
  •  No LASLI withdrawals during the eight months of 2022.
Premium Registered by AM Best Financial Strength Rating Year-to-Date 2022 (January through August)

Totals may not equal the sum of components due to rounding.
Chart excludes premiums in suspense and other premiums that are not allocated to a company.

  • Overall credit quality of rated LASLI companies is strong with AM Best financial strength rating of Excellent or stronger. Berkshire Hathaway Inc., Chubb Limited, and Tokio Marine Holdings, Inc. are the largest operating groups with financial strength rating of A++ by premium registered for the last five years.
  • Lloyd’s syndicates, including those with missing or invalid syndicate numbers, wrote $1.6 billion (14.1%) of 2022 year-to-date premium and fees registered, making it the largest portion of the Non-LASLI category. All Lloyd’s syndicates reflect the Lloyd’s market AM Best financial strength rating of A.
  • Insurers with B++ or lower financial strength ratings wrote $5.5 million (0.1%) of 2022 year-to-date premium registered and consisted of Conifer Insurance Company (Conifer) and General Insurance Corporation of India (GICI). Both are non-LASLI companies.
    • Conifer’s ($5.5 million premiums registered) B+ financial strength rating was affirmed in April 2022 with a stable outlook reflective of persistent adverse loss development, inability to organically grow capital and surplus, and limited financial flexibility of parent company. However, management is exploring capital management initiatives; the group is attempting to gain greater economies of scale, invest in technology, seek more attractive reinsurance ceding commissions and explore other expense-saving efforts.
    • GICI’s ($0.04 million premiums registered) B++ financial strength rating, affirmed in October 2022 with a stable outlook, reflects GICI’s strong level of balance sheet strength, adequate operating performance, favorable business profile, appropriate enterprise risk management (ERM), and factors in a neutral impact from the company’s ultimate majority ownership by the government of India. The long-term issuer credit rating outlook was revised to negative from stable reflecting increasing pressure on GICI’s ERM assessment.
AM BEST Financial Strength Rating Actions and Outlook/Implication
LASLI Insurers – 2021 and 2022
AMB Financial Strength Rating Outlook/ Implication ¹AMB Financial Strength Rating Actions ¹AMB Financial Strength Rating ¹AMB Ultimate Parent ²YTD 2022
Premium Registered
($000's) ³		YTD 2022
Premium Registered
(% of Total) ³
StableAffirmed - Various Insurers7,451,38294.4%
UpgradedA+SELECTIVE INSURANCE GROUP, INC.35,9700.5%
AUTO-OWNERS INSURANCE COMPANY16,5390.2%
AssignedAINTACT FINANCIAL CORPORATION3,1850.0%
Stable Total7,507,07795.1%
NegativeAffirmedAUNITED FIRE GROUP, INC.32,0490.4%
A-HALLMARK FINANCIAL SERVICES, INC.49,4670.6%
CORNELL CAPITAL GP II GP LLC28,0850.4%
Under ReviewA uROCKINGHAM MUTUAL GROUP, INC.6,0680.1%
Downgraded Under ReviewAXA S.A.3,2600.0%
Negative Total118,9291.5%
PositiveAffirmedAHDI V.A.G.68,8010.9%
ASSURANT, INC.61,2530.8%
A-CORE SPECIALTY INSURANCE HOLDINGS, INC.72,0180.9%
HAMILTON INSURANCE GROUP, LTD.21,3270.3%
Under ReviewA- uFOSUN INTERNATIONAL HOLDINGS LTD.33,9300.4%
Positive Total257,3283.3%
Unrated or Withdrawn-Pre 2021 Total11,3750.1%
Grand Total7,894,708100.0%
  1. AMB financial strength ratings, actions, and outlook/implication per AM Best as of September 21, 2022. Ratings “under review” have a “u” indicator after the rating. Rating is for the AMB rating unit that includes the LASLI company.
  2. Ultimate parent as of September 21, 2022.
  3. Premiums registered through August 31, 2022.

In addition to a financial strength rating, AM Best includes a rating outlook (stable, negative, or positive) indicating the potential future direction of the rating over an intermediate term (about 36 months). For ratings that are under review, the potential future direction is called a rating implication (negative, developing, and positive) and the forward-looking timeframe is more near-term (typically 6 months).

Stable Outlook (95.1% of YTD 2022 Premium Registered)
  • Most groups have AM Best ratings with a stable outlook, with most ratings affirmed stable (94.4% of YTD 2022 premium registered).
  • The two groups and their respective LASLI companies with afinancial strength rating upgrade were as follows:
    • Auto-Owners Insurance Company; Atlantic Casualty Insurance Company (A+): Upgrade due to increased level of integration, as well as tangible operating benefits and synergies derived from ownership by Auto-Owners in various functions, including, but not limited to: investments, actuarial services, product development, reinsurance, claims, marketing, and information technology. Additionally, this rating action recognizes Atlantic Casualty’s strategic importance within the Auto-Owners’ organization, particularly evident in Atlantic Casualty’s access to Auto-Owners’ distribution channel, which has contributed to growth in premiums, while maintaining favorable operating performance.
    • Selective Insurance Group, Inc.; Mesa Underwriters Specialty Insurance Company (A+): Upgrade due to strong levels of profitability over the past five years on an absolute basis and improved profitability relative to its peers.
Negative Outlook/Implication (1.5% of YTD 2022 Premium Registered)
  • Several groups and their respective LASLI companies have negative outlooks or implications on their financial strength ratings. Premium registered by insurers with a negative outlook or implication accounted for 1.5% of total YTD 2022 registered premium compared to 0.4% for the same period in 2021.
  • Three groups and their respective LASLI companies with affirmed ratings and negative outlooks:
    • United Fire Group, Inc.; Mercer Insurance Company (A): Negative outlook due to execution risk associated with the implementation of the enterprise-wide strategic plan to improve operational and financial performance given competitive market conditions and ongoing exposure to catastrophe events.
    • Hallmark Financial Services, Inc.; Hallmark Specialty Insurance Company (A-): Negative outlook due to volatility in the group’s operating performance, with five-year operating metrics comparing unfavorable with the commercial casualty composite driven by natural catastrophe losses and adverse reserve development.
    • Cornell Capital GP II GP LLC; Vault E&S Insurance Company (A-): Negative outlook due to continued operating volatility, which has led to consistent underwriting and pretax operating losses on a statutory and adjusted basis since inception. The outlook considers the impact of the recently implemented reinsurance program. While it is anticipated that the reinsurance program will reduce the severity of losses, underlying challenges remain that management is addressing through several corrective actions. The group also is expected to manage anticipated growth effectively as it pertains to risk accumulations, the influence of current weather patterns and financial performance.
  • One LASLI company’s rating was downgraded and under review with negative implication:
    • AXA S.A.; Catlin Specialty Insurance Company (A u): Rating actions due to the announced acquisition of Catlin Specialty by North American Casualty Group; Catlin Specialty is to be sold as a shell, while being eligible to write excess and surplus business in all states except Oklahoma. Rating downgrade reflects the removal of the implicit and explicit support from its parent organization, AXA S.A. The negative outlook on the North American Casualty Group’s rating is based on continued conservation by the State of California and any possible negative impact on the group’s operating performance or enterprise risk management.
  • One group and its respective LASLI company with negative implications as rating is under review:
    • Rockingham Mutual Group, Inc.; Rockingham Insurance Company (A u): Rating action reflective of the decline in the group’s surplus by 14%, driven by net operating losses of approximately $7.8 million and a net capital loss of $4.7 million. This generated a significant decline the group’s risk-adjusted capitalization as measured by Best’s Capital Adequacy Ratio. The group is currently in the process of potentially stabilizing its balance sheet through a capital injection, however, the ultimate impact on the ratings is uncertain given execution risk in completing the transaction in a timely fashion and finalized terms and conditions.
Positive Outlook/Implication (3.3% of YTD 2022 Premium Registered)
  • Groups and their respective LASLI insurers with affirmed ratings and positive outlooks were as follows:
    • HDI V.a.G.; HDI Specialty Insurance Company & HDI Global Specialty SE (A): Positive outlook reflects expectation that HDI V.a.G.’s prudent risk culture and strong and stable operating performance, supported by improved profitability of its primary business segment, will further enhance the resilience of its balance sheet.
    • Assurant, Inc.; Voyager Indemnity Insurance Company (A): Positive outlook reflects the expectation that the group’s operating fundamentals and future capital generation should remain favorable over the intermediate term. The group’s ability to generate strong earnings and cash flow through operations on a pre-dividend basis, along with having a strong parent, Assurant, Inc., are considered in the revised outlooks.
    • Hamilton Insurance Group, Ltd.; Hamilton Insurance DAC (A-): Positive outlook reflects the expectation that Hamilton will maintain its improving trend of profitability and continue generating earnings that are accretive to the group’s balance sheet strength.
    • Core Specialty Insurance Holdings, Inc.; Starstone Specialty Insurance Company (A-): Positive outlook reflects the improving business profile of the consolidated Core Specialty group, following its expansion initiatives in 2021 and recent integration of Lancer Insurance Group. Core Specialty has demonstrated an ability to source seasoned and profitable books of business, while continuing to track closely with goals for key performance indicators. While Lancer Insurance Group contributes to the overall Core Specialty strategy, its outlooks are stable due to the lack of history of contributing to and being supported by the greater Core Specialty group.
  • One group and its respective LASLI insurer with positive implications as rating is under review:
    • Fosun International Holdings Ltd.; Century Surety Company (A- u): Rating action reflects the announcement on April 12, 2022, of a definitive agreement under which Accident Fund Insurance Company of America and its subsidiaries will acquire Star Insurance Company and its subsidiaries (collectively, AmeriTrust Group).


Hot Topics – Merger Activity
Merger, Acquisition and Other Corporate Transactions -
LASLI Insurance Groups - 2022¹
AcquirerTargetLASLIPremiums Registered by SLA - 2022 YTD
($000's)		Stage
Announced
Accident FundAmeriTrust GroupCentury Surety Company (T)
$33,390
Announced: 04/12/2022
Anticipated Completion date: Before the end of 2022
Accident Fund General Insurance Company (A)$13,428
Applied UnderwritersAXA Insurance GroupCatlin Specialty Insurance Company (T)$3,260Announced: 02/23/2022
Anticipated Completion
date: 2Q2022
Berkshire HathawayAlleghany CorporationLandmark American Insurance Company (T)$177,449Announced: 03/21/2022
Anticipated Completion date: 4Q2022
Capitol Specialty Insurance Corporation (T)$49,768
Fair American Select Insurance Company (T)$4,595
Covington Specialty Insurance Company (T)$7,996
National Fire & Marine Insurance Company (A)
$420,594
General Star Indemnity Company (A)$51,539
Mount Vernon Fire Insurance Company (A)$15,226
AZGuard Insurance Company (A)$11,774
Berkshire Hathaway International Insurance Limited (A)$1,375
Completed 2022
Liberty Mutual Holding Company Inc.State Automobile Mutual Insurance Company
&
State Auto Financial Corporation		Ironshore Specialty Insurance Company (A)$111,903Completed: 3/1/2022
Liberty Surplus Insurance Corporation (A)$86,760
Liberty Mutual Insurance Europe SE (A)$7,544
Liberty Specialty Markets Bermuda Limited (A)$232

1 Information as of 8/31/2022.

• Names of LASLI Subsidiaries or Applicants are followed by either a (T) for Target or an (A) for Acquirer.

• LASLI/Eligible Subsidiaries includes LASLI companies but excludes Lloyd’s Syndicates and NRRA eligible subsidiaries with premium registered below a minimum threshold. For 2022, the threshold is $5.0 million.

Hot Topics – Developing
  • Core Specialty Insurance Holdings, Inc. (Core Specialty) acquired Hallmark Financial Services, Inc.’s (Hallmark) excess and surplus line operations: Hallmark, the ultimate owner of LASLI company, Hallmark Specialty Insurance Company, reported poor results for the first six months of 2022. The poor results include a combined ratio of 137.1% driven in part by unfavorable net prior year loss reserve development in the commercial auto business. Hallmark also has a reinsurance dispute related to a loss portfolio transfer agreement that they entered into. The SLA is closely monitoring Hallmark and its LASLI-subsidiary, Hallmark Specialty Insurance Company.

    Core Specialty completed the acquisition for Hallmark’s Specialty Commercial segment that is distributed through the wholesale insurance brokerage channel for approximately $40 million in cash. The transaction will not include any insurance company entities, and loss reserves will be excluded from the transaction. Management and the approximately 176 employees of Hallmark’s E&S business, based in Dallas, Atlanta, and Jersey City will transition to Core Specialty. Core Specialty currently owns Starstone Specialty Insurance Company, a LASLI company.
Premium Registered By Ultimate Parent1 – Top 20 Insurer Groups – 2022 (January Through August)
AMB Ultimate Parent¹Operating CompanyStatus²AMB
Financial Strength
Rating³		YTD 2022
Premium Registered
($000's)		YTD 2022
Premium Registered
(% of Total)
LLOYD'SLLOYD'S OF LONDONNon-LASLIA1,567,28414.1%
LLOYD'S Total1,567,28414.1%
MARKEL CORPORATIONUNITED SPECIALTY INSURANCE COMPANYLASLIA253,3922.3%
EVANSTON INSURANCE COMPANYLASLIA239,0652.2%
MARKEL INTERNATIONAL INSURANCE COMPANY LIMITEDLASLIA11,6580.1%
INDEPENDENT SPECIALTY INSURANCE COMPANYLASLIA8,7100.1%
OTHER AFFILIATES WITH PREMIUM REGISTERED <$7.5M7,7570.1%
MARKEL CORPORATION Total520,5834.7%
BERKSHIRE HATHAWAY INC.NATIONAL FIRE & MARINE INSURANCE COMPANYLASLIA++420,5943.8%
GENERAL STAR INDEMNITY COMPANYLASLIA++51,5390.5%
MOUNT VERNON FIRE INSURANCE COMPANYLASLIA++15,2260.1%
AZGUARD INSURANCE COMPANYLASLIA+11,7740.1%
OTHER AFFILIATES WITH PREMIUM REGISTERED <$7.5M5,2340.0%
BERKSHIRE HATHAWAY INC. Total504,3684.5%
FAIRFAX FINANCIAL HOLDINGS LIMITEDALLIED WORLD NATIONAL ASSURANCE COMPANYLASLIA131,2401.2%
CRUM & FORSTER SPECIALTY INSURANCE COMPANYLASLIA124,4171.1%
HUDSON EXCESS INSURANCE COMPANYLASLIA96,0330.9%
ALLIED WORLD SURPLUS LINES INSURANCE COMPANYLASLIA86,9080.8%
SENECA SPECIALTY INSURANCE COMPANYLASLIA13,0990.1%
HILLTOP SPECIALTY INSURANCE COMPANYLASLIA12,8080.1%
OTHER AFFILIATES WITH PREMIUM REGISTERED <$7.5M6,2210.1%
FAIRFAX FINANCIAL HOLDINGS LIMITED Total470,7254.2%
NATIONWIDE MUTUAL INSURANCE COMPANYSCOTTSDALE INSURANCE COMPANYLASLIA+455,5284.1%
OTHER AFFILIATES WITH PREMIUM REGISTERED <$7.5M1080.0%
NATIONWIDE MUTUAL INSURANCE COMPANY Total455,6364.1%
AMERICAN INTERNATIONAL GROUP, INC.LEXINGTON INSURANCE COMPANYLASLIA272,0452.5%
AIG SPECIALTY INSURANCE COMPANYLASLIA129,2961.2%
WESTERN WORLD INSURANCE COMPANYLASLIA18,1060.2%
AMERICAN INTERNATIONAL GROUP UK LIMITEDNon-LASLIA9,1900.1%
OTHER AFFILIATES WITH PREMIUM REGISTERED <$7.5M1,4370.0%
AMERICAN INTERNATIONAL GROUP, INC. Total430,0743.9%
W. R. BERKLEY CORPORATIONADMIRAL INSURANCE COMPANYLASLIA+137,7281.2%
GEMINI INSURANCE COMPANYLASLIA+116,1491.0%
NAUTILUS INSURANCE COMPANYLASLIA+59,3430.5%
BERKLEY ASSURANCE COMPANYLASLIA+50,0920.5%
OTHER AFFILIATES WITH PREMIUM REGISTERED <$7.5M7,3510.1%
W. R. BERKLEY CORPORATION Total370,6643.3%
SOMPO HOLDINGS, INC.ENDURANCE AMERICAN SPECIALTY INSURANCE COMPANYLASLIA+281,6182.5%
ENDURANCE WORLDWIDE INSURANCE LIMITEDNon-LASLIA+32,6870.3%
OTHER AFFILIATES WITH PREMIUM REGISTERED <$7.5M2,5390.0%
SOMPO HOLDINGS, INC. Total316,8432.9%
CHUBB LIMITEDWESTCHESTER SURPLUS LINES INSURANCE COMPANYLASLIA++120,3601.1%
ILLINOIS UNION INSURANCE COMPANYLASLIA++100,8000.9%
CHUBB CUSTOM INSURANCE COMPANYLASLIA++54,1500.5%
CHUBB EUROPEAN GROUP SELASLIA++16,8820.2%
OTHER AFFILIATES WITH PREMIUM REGISTERED <$7.5M1500.0%
CHUBB LIMITED Total292,3412.6%
AXA S.A.INDIAN HARBOR INSURANCE COMPANYLASLIA+227,1842.0%
AXA XL INSURANCE COMPANY UK LTDNon-LASLIA+12,0990.1%
OTHER AFFILIATES WITH PREMIUM REGISTERED <$7.5M4,3990.0%
AXA S.A. Total243,6822.2%
ALLEGHANY CORPORATIONLANDMARK AMERICAN INSURANCE COMPANYLASLIA+177,4491.6%
CAPITOL SPECIALTY INSURANCE CORPORATIONLASLIA49,7680.4%
COVINGTON SPECIALTY INSURANCE COMPANYLASLIA+7,9960.1%
OTHER AFFILIATES WITH PREMIUM REGISTERED <$7.5M4,5950.0%
ALLEGHANY CORPORATION Total239,8092.2%
ASSOCIATED ELECTRIC & GAS INSURANCE SERVICES LIMITEDASSOCIATED ELECTRIC & GAS INSURANCE SERVICES LIMITEDNon-LASLIA219,2212.0%
ASSOCIATED ELECTRIC & GAS INSURANCE SERVICES LIMITED Total219,2212.0%
MUNCHENER RUCKVERSICHERUNG AGGREAT LAKES INSURANCE SELASLIA+95,9090.9%
PRINCETON EXCESS AND SURPLUS LINES INSURANCE COMPANYLASLIA+80,7390.7%
HSB SPECIALTY INSURANCE COMPANYLASLIA++21,4380.2%
BRIDGEWAY INSURANCE COMPANYLASLIA+18,7650.2%
OTHER AFFILIATES WITH PREMIUM REGISTERED <$7.5M-60.0%
MUNCHENER RUCKVERSICHERUNG AG Total216,8442.0%
TOKIO MARINE HOLDINGS, INC.HOUSTON CASUALTY COMPANYLASLIA++141,8891.3%
TOKIO MARINE SPECIALTY INSURANCE COMPANYLASLIA++43,7250.4%
SAFETY SPECIALTY INSURANCE COMPANYNon-LASLIA++28,0300.3%
OTHER AFFILIATES WITH PREMIUM REGISTERED <$7.5M1050.0%
TOKIO MARINE HOLDINGS, INC. Total213,7481.9%
LIBERTY MUTUAL HOLDING COMPANY INC.IRONSHORE SPECIALTY INSURANCE COMPANYLASLIA111,9031.0%
LIBERTY SURPLUS INSURANCE CORPORATIONLASLIA86,7600.8%
LIBERTY MUTUAL INSURANCE EUROPE SELASLINR7,5440.1%
OTHER AFFILIATES WITH PREMIUM REGISTERED <$7.5M2320.0%
LIBERTY MUTUAL HOLDING COMPANY INC. Total206,4381.9%
THE ALLSTATE CORPORATIONNORTH LIGHT SPECIALTY INSURANCE COMPANYLASLIA+194,0761.7%
OTHER AFFILIATES WITH PREMIUM REGISTERED <$7.5M00.0%
THE ALLSTATE CORPORATION Total194,0761.7%
PROGRESSIVE CORPORATIONBLUE HILL SPECIALTY INSURANCE COMPANY INC.Non-LASLIA+189,2231.7%
OTHER AFFILIATES WITH PREMIUM REGISTERED <$7.5M3910.0%
PROGRESSIVE CORPORATION Total189,6141.7%
THE HARTFORD FINANCIAL SERVICES GROUP, INC.NAVIGATORS SPECIALTY INSURANCE COMPANYLASLIA+150,5701.4%
PACIFIC INSURANCE COMPANY, LIMITEDLASLIA+13,2580.1%
OTHER AFFILIATES WITH PREMIUM REGISTERED <$7.5M5,6080.1%
NUTMEG INSURANCE COMPANYLASLIA+00.0%
THE HARTFORD FINANCIAL SERVICES GROUP, INC. Total169,4351.5%
AXIS CAPITAL HOLDINGS LIMITEDAXIS SURPLUS INSURANCE COMPANYLASLIA132,0151.2%
AXIS SPECIALTY EUROPE SELASLIA29,4800.3%
OTHER AFFILIATES WITH PREMIUM REGISTERED <$7.5M3090.0%
AXIS CAPITAL HOLDINGS LIMITED Total161,8041.5%
QBE INSURANCE GROUP LIMITEDQBE SPECIALTY INSURANCE COMPANYLASLIA149,2521.3%
OTHER AFFILIATES WITH PREMIUM REGISTERED <$7.5M6,9110.1%
QBE INSURANCE GROUP LIMITED Total156,1631.4%
Top 20 Insurers Total7,139,35364.3%
All Other Insurers with Premiums Registered3,904,94335.2%
Taxable Fees50,4680.5%
Total Premium Registered and Taxable Fees11,094,765100.0%
  1. Ultimate parent per AM Best as of September 21, 2022.
  2. Status as of September 21, 2022. An insurer merged with and into another LASLI carrier is reported as having a LASLI status if premiums registered are significant.
  3. AMB financial strength rating per AM Best as of September 21, 2022. Lloyd’s syndicate rating = AM Best rating of the Lloyd’s market.
Premium Registered By Lloyd’s Syndicates With Managing Agent1 – 2022 (January Through August)
LLOYD'SYTD 2022
Premium
Registered
($000's)		YTD 2022
Premium
Registered
(% of Total)
Lloyd's Syndicate - 2623 (Beazley Furlonge Limited)226,78914.47%
Lloyd's Syndicate - 2987 (Brit Syndicates Limited)94,8756.05%
Lloyd's Syndicate - 33 (Hiscox Syndicates Limited)76,7144.89%
Lloyd's Syndicate - 1969 (Apollo Syndicate Management Limited)72,7674.64%
Lloyd's Syndicate - 1458 (RenaissanceRe Syndicate Management Limited)65,1864.16%
Lloyd's Syndicate - 623 (Beazley Furlonge Limited)50,3153.21%
Lloyd's Syndicate - 510 (Tokio Marine Kiln Syndicates Limited)47,4203.03%
Lloyd's Syndicate - 4444 (Canopius Managing Agents Limited)44,2572.82%
Lloyd's Syndicate - 3624 (Hiscox Syndicates Limited)39,5372.52%
Lloyd's Syndicate - 1414 (Ascot Underwriting Limited)39,1722.50%
Lloyd's Syndicate - 1225 (AEGIS Managing Agency Limited)35,5382.27%
Lloyd's Syndicate - 609 (Atrium Underwriters Limited)33,3472.13%
Lloyd's Syndicate - 2001 (MS Amlin Underwriting Limited)32,1262.05%
Lloyd's Syndicate - 457 (Munich Re Syndicate Limited)30,7171.96%
Lloyd's Syndicate - 1886 (QBE Underwriting Limited)30,5101.95%
Lloyd's Syndicate - 2488 (Chubb Underwriting Agencies Limited)28,8211.84%
Lloyd's Syndicate - 4711 (Aspen Managing Agency Limited)27,9521.78%
Lloyd's Syndicate - 1686 (Axis Managing Agency Limited)26,9551.72%
Lloyd's Syndicate - 2121 (Argenta Syndicate Management Limited)25,6681.64%
Lloyd's Syndicate - 1084 (Chaucer Syndicates Limited)24,9931.59%
Lloyd's Syndicate - 1618 (Brit Syndicates Limited)24,8011.58%
Lloyd's Syndicate - 2003 (AXA XL Underwriting Agencies Limited)24,7141.58%
Lloyd's Syndicate - 1183 (Talbot Underwriting Ltd.)24,0811.54%
Lloyd's Syndicate - 1301 (StarStone Underwriting Limited)22,8071.46%
Lloyd's Syndicate - 4472 (Liberty Managing Agency Limited)21,6701.38%
Lloyd's Syndicate - 435 (Faraday Underwriting Limited)19,7481.26%
Lloyd's Syndicate - 4000 (Hamilton Managing Agency Limited)18,3321.17%
Lloyd's Syndicate - 4020 (Ark Syndicate Management Limited)17,2391.10%
Lloyd's Syndicate - 1967 (W. R. Berkley Syndicate Management Ltd)16,7531.07%
Lloyd's Syndicate - 2791 (Managing Agency Partners Limited)14,3550.92%
Lloyd's Syndicate - 1880 (Tokio Marine Kiln Syndicates Limited)14,0510.90%
Lloyd's Syndicate - 1200 (Argo Managing Agency Limited)13,9330.89%
Lloyd's Syndicate - 1861 (Canopius Managing Agents Limited)12,9690.83%
Lloyd's Syndicate - 1919 (Starr Managing Agents Limited)12,7710.81%
Lloyd's Syndicate - 1856 (IQUW Syndicate Management Limited)11,8440.76%
Lloyd's Syndicate - 1729 (Asta Managing Agency Limited)11,3970.73%
Lloyd's Syndicate - 3623 (Beazley Furlonge Limited)11,3380.72%
Lloyd's Syndicate - 1955 (Arch Managing Agency Limited)10,8120.69%
Lloyd's Syndicate - 1274 (Antares Managing Agency Limited)10,7560.69%
Lloyd's Syndicate - 5000 (Travelers Syndicate Management Limited)10,1180.65%
Lloyd's Syndicate - 1609 (Asta Managing Agency Limited)8,9560.57%
Lloyd's Syndicate - 318 (Cincinnati Global Underwriting Agency Ltd.)8,6030.55%
Lloyd's Syndicate - 2357 (Nephila Syndicate Management Ltd.)8,2000.52%
Lloyd's Syndicate - 2015 (SCOR Managing Agency Limited)8,0940.52%
Lloyd's Syndicate - 3000 (Markel Syndicate Management Ltd.)7,7660.50%
Lloyd's Syndicate - 2012 (Arch Managing Agency Limited)7,7070.49%
Lloyd's Syndicate - 2288 (Asta Managing Agency Limited)7,6200.49%
All Other Lloyd’s Syndicates with Premium Registered <$7.5M & Other ²132,1928.43%
Lloyd's Total1,567,284100%
  1. Source: Standard & Poor’s as of September 21, 2022, and Lloyd’s List of Active Syndicates & Managing Agents for 2022 Year of Account.
  2. All Other includes Lloyd’s premium registered with a missing or invalid syndicate number.