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, Canada and Latin America.
Headquartered in London, Newline Group operates through three underwriting platforms: Newline Syndicate 1218 at Lloyd’s, Newline Insurance Company Limited and Newline Europe Versicherung AG (Newline Europe).
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. In 2019, Newline joined Lloyd’s representative office in Mexico City to offer liability and financial lines coverage to clients in Latin America and the Caribbean.
Newline Insurance Company Limited, headquartered in London with a regional office in Leeds, offers casualty insurance and facultative reinsurance in most jurisdictions around the world. Its new subsidiary based in Germany, Newline Europe, was established in 2019 to provide casualty insurance throughout the European Community.
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 again delivered excellent results in 2019, with gross premiums written of $297.6 million and a net combined ratio of 96.0%. This compares to gross premiums written of $221.7 million and a net combined ratio of 92.1% in 2018. Growth in 2019 was principally driven by Affinity & Special Risks, Liability and Directors & Officers. We saw positive rate movement across all Financial and Professional Lines, as well as Cargo, and anticipate similar increases in Medical Malpractice and Liability going forward. We also benefitted from favourable loss development as well as negligible exposure to the catastrophe events of 2019.
Being closer to our distribution partners and clients has always been an important part of our business strategy, which continued in 2019 with further expansion in Latin America and Europe. We are excited about the opportunities that lie ahead and look forward to developing our business as the needs of our clients evolve.
Carl A. Overy
Chief Executive Officer
Newline Group