QBE at Lloyd's / Umbrella Syndicate 2999

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.

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
326
1886 Non-Marine liability John Neal
109
2000 Property Bernard Mageean
103
5555 Aviation Emilio Di Silvio
126
     
980

Financial Summary

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

A summary of the development of Syndicate 2999’s capacity composition since its establishment is as follows:

Syndicate 2999 Capacity (£m)

Sub-syndicate2003200420052006200720082009
566 156.0 160.0 180.0 215.0 245.0 290.0 275.0
1036 - - 185.0 210.0 220.0 210.0 275.0
1886 - - - 30.0 35.0 100.0 90.0
2000 185.0 215.0 185.0 180.0 195.0 85.0 75.0
2386 - - - - - - -
2724 159.0 155.0 - - - - -
5555 - - - 25.0 85.0 95.0 85.0
  500.0 530.0 550.0 660.0 780.0 780.0 800.0

Reports and Accounts
2999 Syndicate 2999 Annual Report (2008)
587 Kb
Syndicate
Syndicate 2999 Annual Report (2007)
242 Kb
Syndicate 2999 Annual Report (2006)
2,135 Kb
 
:: S&P Ratings Direct Report - Syndicate 2999 Aug 2008