QIC Group owned Antares tops Lloyd’s Peer Analysis for investment performance
Antares Managing Agency Ltd (“Antares”), the Lloyd’s of London specialist insurer and reinsurer, owned by QIC Group, announced that Antares Syndicate 1274 has ranked first for investment performance in 2020 according to J P Morgan Asset Management’s Lloyd’s Peer Analysis.
Antares received a 5.34 percent return on investment for the 2020-year end, against a market average of 2.91 percent. Syndicate 1274 also achieved second place for the three-year average return over the period 2018 to 2020.
The J P Morgan Asset Management Lloyd’s Peer Analysis compares the 2020 investment performance of Lloyd’s syndicates with average trust fund assets in excess of £100mn over the period 2018-2020. This study is derived from Lloyd’s Statistics 2020 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 (pictured), QIC Group Chief Executive Officer, Said: “We are extremely pleased to have placed so well in J P Morgan’s Asset Management’s Lloyd’s Peer Analysis. QIC Group Owned Antares’ outstanding investment performance is a testament to the Group’s considered growth plan and well-diversified investment strategy that thrives on thorough research, efficient selection, timely execution and continuous monitoring.”
“Our approach is to favour sustainable and profitable growth.” Al Manni added.
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 speciality 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 $ 4bn.