IQUW’s Intelligent Underwriting Strategy Delivers 83.3% COR

We are delighted to announce record profits, delivering a combined operating ratio of 83.3% (80.9% in 2023), in our financial results for the year ending 31 December 2024.

Gross written premiums grew 22% year-on-year to $1.1bn as the firm added a fourth consecutive year of growth since its formation in 2021.

“I am delighted with our results and the growth across our chosen areas of expertise as we continue to build a diverse, multi-line specialty portfolio,” said IQUW Chief Executive Officer, Peter Bilsby.

“Our results and trajectory are a reflection of IQUW’s fast moving, nimble and empowered team, our growing lead capability and the development of our service proposition – I am thankful to our brokers for their continued support and partnership.”

Throughout 2024, IQUW made significant investments in technology and its team, enhancing lead capabilities across specialist products, including Property, Marine & Energy, Credit & Political Risk and most recently, Portfolio Solutions.

Last month, the leading insurance consultancy Gracechurch awarded IQUW the Underwriting Service Quality Marque, an accreditation which recognises the business for its outstanding underwriting performance.

Bilsby added: “We remain on track and continue to deliver on our strategic ambitions. We have recruited and promoted exceptional talent, expanded our portfolio, developed our use of data to enhance our decision making and delivered outstanding underwriting service.

“2025 will see us consolidate our position through continued intelligent use of data and insights, execution of strategic growth initiatives and delivery of best-in-class service to our brokers and clients.”

IQUW was set up in January 2021, with a vision of underwriting Speciality (re)insurance risk by intelligently combining data, automation, and human expertise, to deliver consistent, fast decisions for brokers, partners, and clients, so every risk is made seamlessly simple.