Turning a profit in the Lloyd’s of London insurance exchange is proving elusive for the two protection-and-indemnity (P&I) clubs that have ventured into this market.
The Standard Club linked syndicate 1884 rang up a loss of £26.45m through 2016, while Skuld’s syndicate 1897 ended up £20.5m in the red.
Both syndicates are relatively new and focused on the hull and wider marine markets, which appear perennially soft, so the result is no surprise.
