Halden reportsOverview
Halden report · OverviewWhat do we do, and how is it moving?
It insures property, specialty, casualty, reinsurance and cyber, and Halden plans £750m of premium for 2027, up 10% on 2026.
CoVi · Business at a glanceFictitious
Halden Managing Agency
Halden's business at a glance, built by Context Visualised: what it insures, where, in which currencies, and how each moves against 2026. 2027 plan, £m at plan rates of exchange.
Halden Managing Agency
Halden is a Lloyd's managing agent running two syndicates. Syndicate 9146 insures property and specialty risks, such as buildings, ships and energy sites, sells reinsurance to other insurers and writes cyber for smaller firms. Syndicate 9147 insures casualty, meaning liability claims against professionals, company directors and US businesses, along with cyber for larger companies.
About a third of the business comes through partners: coverholders who write policies on our behalf, and two fronting insurers in the UAE and the US who issue local policies and pass the risk to us. Our owned coverholder in Dubai, on the Lloyd's platform in the DIFC, writes Middle East business for Syndicate 9146.
For 2027 we plan to grow premium by 10% to £750m and return a profit of £75m, with growth led by casualty, reinsurance and the Middle East.
2027 plan vs 2026
- Gross written premium2026 forecast: £680m£750m▲ 10%
- Plan profit2026 forecast: £64m£75m▲ 17%
- Combined ratio2026 forecast: 93.0% · lower is better91.5%▼ 1.5 pts
- Solvency coverage, 2027 planToday: 152% at 30 Sep 2026 · capital held vs required148%
What we insure
Gross premium · vs 2026- Property£220m▲ 7%Buildings, factories and businesses · 2026: £205m
- Casualty£210m▲ 17%Liability claims against professionals, directors and firms · 2026: £180m
- Specialty£160m▼ 3%Marine, energy and political violence · 2026: £165m
- Reinsurance£90m▲ 29%Protection we sell to other insurers · 2026: £70m
- Cyber£70m▲ 17%Data breaches and system outages · 2026: £60m
Currencies
Share of premium- USD58%
- GBP21%
- EUR10%
- AED6%
- Other5%
Where we write business
Gross premium by region and change vs 2026 · bubble size shows premium- US & Canada£285m▲ 12%
- UK & Ireland£165m▲ 3%
- Europe£105m▲ 5%
- Middle East, all channels£83m▲ 34%
- Asia Pacific£67m▲ 6%
- Rest of world£45m▲ 12%
▲ ▼ favourable ▲ ▼ adverse · change vs 2026 forecast. Year of account 2027 plan, £m at plan rates of exchange.
Each class shows its 2027 premium and its change on the 2026 forecast. On the map, bubble size shows premium, and the arrows mark favourable or adverse change.
Source: 2027 business plan (year of account 2027, £m at plan rates of exchange) and the 2026 forecast.
What it tells us
What it tells us this quarter
- +29%
Growth comes from casualty, up 17% to £210m, and reinsurance, up 29% to £90m, in the plan.
- £83m
Middle East premium across all channels rises 34% to £83m in the 2027 plan, the fastest-growing region. The owned coverholder in Dubai writes for Syndicate 9146 only.
- £75m
The plan profit is £75m, with the combined ratio improving to 91.5% from 93.0% in 2026.
What we did
What we did about it
No action in Halden's action log links to this board. The plan is watched instead: premium against plan is a key risk indicator, 6% ahead and approaching its limit.
Sources
Where the numbers come from
The figures follow the layout of a Lloyd's syndicate business forecast (SBF), the return that sets out a syndicate's plan by class. No real firm's filing was used.
- Board data2027 business plan (year of account 2027, £m at plan rates of exchange) and the 2026 forecast
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Halden is fictitious. Its numbers are illustrative.