IQUW sees GWP grow 22% in 2024 with 83.3% CoR

Specialty insurer and reinsurer, IQUW has announced its financial results for the year ending 31 December 2024, reporting a combined operating ratio of 83.3% and gross written premium (GWP) growth of 22%.

2024’s combined ratio was slightly higher compared to the 80.9% reported in 2023.

This year’s $1.1 billion in gross written premiums mark the fourth consecutive year of growth since its IQUW was launched in 2021, the firm highlighted.

“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.

He continued: “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.”

IQUW received the Underwriting Service Quality Marque from Gracechurch, a top insurance consultancy firm, last month. The award recognises IQUW’s exceptional underwriting performance.

Throughout 2024, IQUW invested heavily in technology and personnel to improve lead capabilities across its specialised products, including Property, Marine & Energy, Credit & Political Risk, and Portfolio Solutions.

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.”

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