For Investors
Ariel Re aims to match high quality, desirable risk to high quality capital providers seeking superior risk-adjusted returns.
We seek to achieve superior returns by sourcing low frequency / high severity, high margin business and leveraging the capital support of Lloyd’s of London.
Through investment in our reinsurance portfolios we offer investors the chance to access high returns which are uncorrelated with the broader market.
Syndicate Performance
Ariel Re has a long track record of outperforming our peers and generating consistent returns across market cycles. Lloyd’s data regularly shows Ariel Re to regularly and significantly outperform the market.
Ariel Syndicate 1910 was the most profitable non-life syndicate at Lloyd’s over the last decade (2016 to 2025) with a weighted-average combined ratio of 82.8%.
Syndicate 1910 is also ranked the the second-best performing syndicate at Lloyd’s in 2025 over a five-year period (2021 to 2025) with a weighted-average combined ratio of 76.5%.
On a one-year basis, Syndicate 1910 was also the second most profitable Lloyd’ syndicate for the 2025 Year of Account with a weighted-average combined ratio of 46.5%.
The Best Performers Of The Last Decade At Lloyd's
Top 10 Lloyd’s syndicates ranked by underwriting performance between 2016 and 2025
Key: More volatile than median syndicate | Less volatile than median syndicate
| Syndicate | ↑ Combined ratio | Standard deviation |
|---|---|---|
| 1 Ariel 1910* | 82.8% | 27% |
| 2 Ive 2525 | 84.1% | 8% |
| 3 Aegis 1225 | 84.8% | 9% |
| 4 Chubb 2488* | 86.2% | 10% |
| 5 MAP 2791 | 86.2% | 10% |
| 6 Probitas 1492* | 88.6% | 23% |
| 7 Newline 1218 | 88.7% | 4% |
| 8 Ark 4020* | 89.0% | 8% |
| 9 Lancashire 3010 | 89.2% | 8% |
| 10 Munich Re 457 | 89.6% | 7% |
Combined ratio = average combined ratio for 2016-25 period, weighted by annual GWP
Standard deviation = weighted standard deviation of annual combined ratios reported for 2016-25 period
Criteria for inclusion: 10 years of trading, with more than £100mn of GWP in at least 5 of those years
Also excluded: life syndicates, RITC syndicates and SPAs
* Syndicates which changed ownership/management during the period
Source: S&P Capital IQ Pro; company financial statements
The best performers of the last five years at Lloyd's
Top 10 Lloyd’s syndicates ranked by underwriting performance between 2021 and 2025
Key: More volatile than median syndicate | Less volatile than median syndicate
| Syndicate | ↑ Combined ratio | Standard deviation |
|---|---|---|
| 1 Nephila 2357 | 57.6% | 26% |
| 2 Ariel 1910* | 76.5% | 30% |
| 3 Aegis 1225 | 79.1% | 5% |
| 4 Cincinnati Global 318 | 79.5% | 5% |
| 5 Ive 2525 | 79.6% | 6% |
| 6 Probitas 1492* | 80.2% | 7% |
| 7 Chubb 2488 | 81.4% | 5% |
| 8 CFC 1988 | 82.0% | 6% |
| 9 Hiscox 33 | 82.9% | 5% |
| 10 Ark 4020* | 84.0% | 3% |
Alpha Generators
Ariel Re offers a unique combination of superior systems, underwriting outperformance, downside protection and capital efficiency
Portfolio
- Ground up portfolio construction using proprietary portfolio and pricing system
- In house research team constantly evaluating new climate data and reports
Hedging
- Targeted hedging strategy offering effective downside mitigation
Underwriting
- Experienced underwriting team with deep industry knowledge and relationships
- 18-year history and deep relationships with brokers and cedants provides unparalleled access to business
Platform
- Lloyd’s highly rated balance sheet enables access to business and provides exceptional capital efficiency for investors
Investor Relations Team
Katie Partington Howarth
Chief Capital Officer
Andy Kerr
Senior Vice President – Capital
Syndicate Financial Statements
Find out more
Katie Partington Howarth
Chief Capital Officer
Insurance and Reinsurance professional with almost 25 years experience across portfolio management and capital strategy. Current role encompasses raising external capital and managing Ariel Re’s capital strategy to ensure the company’s continued growth and success in the reinsurance market. Named one the 50 Most Influential Women in Re/insurance by the Intelligent Insurer.
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Andy Kerr
Senior Vice President – Capital
Andy is responsible for executing on our capital strategies as well as acting as Ariel Re’s ceded buyer. Prior to joining Ariel, Andrew Kerr held roles at Nephila Climate, and KPMG in Bermuda, where he gained experience in financial services and reinsurance.
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