Lloyd's Market Association Bulletin

LMA19-014-PD  |  08 May 2019

Loss Ratio Triangulations

The LMA Loss Ratio Triangulations, based on data from DXC and circulated to managing agents on a quarterly basis, provide details and development patterns of gross net premiums (gross of reinsurance, net of acquisition costs), paid and incurred claims for each Lloyd’s risk code by year of account.

An analysis of this data suggests that the figures increasingly do not represent all business written by Lloyd’s syndicates. The LMA is therefore proposing to populate a second set of triangulations, alongside the existing set, with effect from Q1 2019 based on risk code data sourced directly from Lloyd’s.

We encourage you to read the document linked below, which explains in more detail discrepancies between the data supplied by DXC and the data supplied by syndicates as part of the Lloyd’s Gross Quarterly Data (GQD) return and notes on the basis of preparation and identified limitations with the GQD data.

LMA Loss Ratio Triangulations – new data sets

Please note: publication of the Q1 2019 triangulations may be slightly delayed, given that we are providing a new data set for the first time. Usually the LMA triangulations are published between 4-5 weeks after the quarter end.

Patrick Davison
Deputy Director of Underwriting