Newline Group offers a suite of specialty casualty insurance products in more than 80 countries around the world. Our territorial focus is predominantly the U.K., Continental Europe, Australia, Asia Pacific and Canada.
Headquartered in London, Newline Group operates through two underwriting platforms, Newline Syndicate 1218 and Newline Insurance Company Limited. Newline Syndicate 1218 transacts business at its underwriting box at Lloyd’s and through its service companies that act as “coverholders” around the world, providing local, customized service from its offices in Singapore, Melbourne, Malaysia and Toronto. Newline also participates in Lloyd’s Insurance Company (China) Limited’s platform in Shanghai.
With a branch office in Cologne and a regional office in Leeds, Newline Insurance Company Limited provides casualty insurance throughout the European Community and facultative reinsurance in most jurisdictions around the world.
Our product offerings include Public Liability, Employers Liability, Products Liability, Commercial Crime, Bankers Blanket Bond, Professional Liability, Directors & Officers Liability, Medical Malpractice, Satellite, Cargo, Specie and Affinity & Special Risks.
Newline delivered excellent results in 2018, with gross premiums written of $221.7 million and a net combined ratio of 92.1%. This compares to gross premiums written of $205.1 million and a net combined ratio of 92.4% in 2017. We saw continued growth in Liability, and our Directors & Officers and Affinity & Special Risks portfolios expanded as well. In addition, we were encouraged by improving terms and conditions across all Financial and Professional Lines as well as Cargo. Our performance across the year benefitted from favourable loss emergence together with negligible exposure to the catastrophe events of 2018.
Highlights from 2018 include the establishment of a new service company, Newline Canada Insurance Limited, which is based in Toronto and offers a suite of specialty insurance products primarily focused on small- and mid-sized clients. Our business in Cologne continues to grow and now enters its third year of operation. We are seeing the benefits of being closer to our distribution partners and our clients, which will provide further opportunites for growth.
Moving forward, we anticipate continued improvement of terms and conditions across Cargo and most casualty classes. We also expect our footprint to expand as our newer operations in Toronto and Cologne become more established.
Carl A. Overy
Chief Executive Officer