Daily Digest: Lloyd's MAT syndicate analysis, Cyber market growth finely balanced, Howden launches space unit

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Axis and QBE syndicates lead Lloyd’s MAT profitability The largest marine, aviation and transport (MAT) underwriters at Lloyd’s outperformed the wider market last year as the segment’s profits tumbled, according to Insurance Day’s analysis. The analysis of syndicate annual reports shows the 10 largest writers of MAT business made their size count, achieving an aggregate profit in the segment of £68.2m ($90.8m) in 2024. While the profit was significantly lower than in the previous year, it was much higher than the wider MAT market, which booked an aggregate loss of £8.9m in 2024.