QBE at Lloyd's / Overview

Overview

Umbrella Syndicate 2999 was established for the 2000 year of account in order to provide a mechanism for the efficient use of capital whilst maximising the individual strengths and professional expertise of the underlying sub-syndicates.

Risks are not underwritten by Syndicate 2999 in its own right but it is the sole trading entity from a regulatory perspective and the focal point for management control and administration of the trading sub-syndicates.

For 2009, Syndicate 2999 operates five autonomously managed sub-syndicates, writing a broad range of business with a projected income of £980m, comprised as follows:

SyndicateClassesManaging Director                   £m
566 Reinsurance Jonathan Parry
316
1036 Marine & Energy Colin O'Farrell
334
1886 Non-Marine liability John Neal
132
2000 Property Bernard Mageean
74
5555 Aviation Emilio Di Silvio
108
     
964

Financial Summary

The information provided below sets out summary financial information in respect of Umbrella Syndicate 2999. Syndicate 2999’s capacity is provided 100% by QBE Insurance Group Limited, the international insurance and reinsurance group:

Syndicate 2999 Capacity (£m)

Sub-syndicate2004200520062007200820092010
566 160.0 180.0 215.0 245.0 290.0 275.0 342.0
1036 - 185.0 210.0 220.0 210.0 275.0 342.0
1886 - - 30.0 35.0 100.0 100.0 129.0
2000 215.0 185.0 180.0 195.0 85.0 65.0 72.0
2386 - - - - - - -
2724 155.0 - - - - - -
5555 - - 25.0 85.0 95.0 85.0 115.0
  530.0 550.0 660.0 780.0 780.0 800.0 1,000.0

Reports and Accounts
2999 Syndicate 2999 Annual Report (2009) Syndicate
2999 Syndicate 2999 Annual Report (2008) Syndicate
Syndicate 2999 Annual Report (2007)
Syndicate 2999 Annual Report (2006)
 
:: S&P Ratings Direct Report - Syndicate 2999 Aug 2008