2025 Lloyd's stamp capacity survey: Top quartile of market set to contract year on year

% change in aggregate stamp capacity of Lloyd's syndicates in each combined ratio quartile for each year of account between 2020 and 2025

Quartile classifications are based on syndicates' reported financial-year combined ratio two years prior to a given YOA; i.e. changes for the 2025 YOA are analysed based on FY 2023 quartiles

Syndicates which declined to respond to survey and for which figures could not be sourced elsewhere excluded
Source: Insurance Insider