Hamilton receives approval from Lloyd’s to almost double GWP in 2017

Lloyd’s has granted approval to Hamilton Underwriting, the Lloyd’s platform of Hamilton Insurance Group, to increases its gross written premium for Syndicate 3334 to £122.5 million in 2017.

The previous GWP approved for the syndicate in 2016 was £69.5 million.

Syndicate 3334 has also received approval to write two new lines of business in 2017: marine liability, and war and terror.

“We are delighted that Lloyd’s has approved this substantial increase in our capacity for 2017 and has given us the go-ahead to write marine liability and war and terror business,” said Dermot O’Donohoe, CEO of Hamilton Underwriting.

“Since acquiring the Syndicate in 2015, we have recruited market-leading teams of underwriters and significantly scaled up the business.

“Some of our books of business were relatively small and thus subject to volatility if there were major losses, so this increase in capacity allows us to iron out a degree of volatility in the portfolio.

“The current soft market is difficult and there are many challenges, but with our combination of careful risk selection and utilisation of data and analytics to improve our underwriting, we look forward to maximising profitable business opportunities in 2017.”