QIC Group owned Antares Syndicate 1274 tops Lloyd's Peer Analysis for investment performance

27 September 2022 —
Lloyd's specialist insurance and reinsurance subsidiary of QIC Group, Antares Managing Agency Ltd, announced Antares Syndicate 1274 has been ranked first for investment performance according to J.P. Morgan Asset Management's Lloyd's Peer Analysis.

The ranking is based on three-year average investment return over the period from FY 2019 to 2021. Antares achieved an average annual investment return of 3.6% against Syndicate Peer average of 1.6%.

The J.P. Morgan Asset Management Lloyd's Peer Analysis compares the investment performance of Lloyd's syndicates with average trust fund assets in excess of GBP 100 million over the period 2019-2021. This study is derived from Lloyd's Statistics 2019-21 and includes investment performance of syndicate trust fund assets and excludes the investment performance associated with Funds at Lloyd's assets.

Commenting on the performance Salem Al Mannai, QIC Group Chief Executive Officer, said: "Antares is fully aligned with our parent company QIC Group's objectives and strategy. Our approach is to favor sustainable and profitable growth and our investment strategy has a significant role to play in achieving these objectives. We are extremely pleased to have been ranked number one in J.P. Morgan's Asset Management's Lloyd's Peer Analysis. This is a testament to our sustainable growth plan and well-diversified investment strategy."

Antares Managing Agency Limited was acquired by QIC Group in 2014 and operates internationally though the Lloyd's platform in London and Singapore. The Lloyd's managing agency was formed in 2007 and underwrites for Syndicate 1274 as a highly diversified commercial and specialty lines insurer and reinsurer with over 62 underwriters across 17 lines of business.

Founded in 1964, QIC was the first domestic insurance company in the State of Qatar. Today, QIC is the market leader in Qatar and a dominant insurer in the GCC and MENA region. QIC is one of the highest rated insurers in the Gulf region with a rating of A/Stable from Standard & Poor's and A(Excellent) from A.M. Best. In terms of profitability and market capitalization, QIC is also the largest insurance company in the MENA region. It is listed on the Qatar Exchange and has a market capitalization of over USD 4 billion.