Daily Digest: Profits surge for top Lloyd's MAT writers, P&I clubs handle UK sanctions, Managing geopolitical risk

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Underwriting profits surge for top Lloyd’s MAT writers Analysis of syndicate annual reports conducted by Insurance Day shows the 10 largest writers of marine, aviation and transport (MAT) business made their size and market position count, recording a significant outperformance compared with the rest of the market. The top 10 writers made an aggregate profit of 10.1% of gross MAT premiums written in 2023, up from 9.6% in 2022. This compared with an aggregate underwriting profit of 6.8% of MAT premiums in 2023 for all 59 syndicates analysed, compared with 6.6% in the previous year.