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Hardy Underwriting

Hardy is a small but highly regarded integrated Lloyds vehicle. In 27 of the 28 closed years since formation its syndicate 382 has outperformed the Lloyds market -by more than 10% on average.

Hardy Underwriting: 14.7% after tax return, despite large individual hits

Hardy's 14.7% after-tax return on equity was not enough to satisfy the market which has come to expect the continuation of a series of stellar performances. The share price fell on the confirmation of the second-half loss.

Publication Date:
March 31 2005

Hardy; Hardly a foot wrong

  • Hardy’s surplus funds were well used in buying a stake in its rival Atrium
  • Reported profits in 2004 will continue to benefit from the sale of this stake, and shareholders will receive a 25p special dividend in October
  • 2004 profit prospects look reasonable, despite some weakening in rates
  • Hardy has been remarkably successful in its single minded pursuit of profitable underwriting. However, at this stage we are taking a cautious view of 2005.

Publication Date:
August 17 2004

Hardy Underwriting June 2003

  • Lloyd’s market which has seen some difficult trading years, while the shares enjoy a strong asset backing of 142p per share. The environment for underwriting rates appears to have improved at a time when HUG has almost doubled its allocated capacity at Lloyd’s, from £54m to £100m.
  • Hardy Underwriting: 14.7% after tax return, despite large individual hit

Publication Date:
June 1 2003

Hardy Underwriting January 2003

Hardy Underwriting Group (’HUG’) aims to become one of the emerging integrated Lloyd’s vehicles (‘ILV’) operating as composite insurers within Lloyd’s of London. HUG concentrates on price and profit rather than on volume, generating positive underwriting returns throughout the insurance cycle, and has maintained intact the capital supporting the business.

Publication Date:
January 1 2003