For 2021, the sum of all inward/outward premium/claim/treaty balance accounting transactions processed by XIS stabilised in the Lloyd’s Market with a contrasting significant increase in the company market of around £2 billion. This can still be attributed to the Brexit effect and significant new company market-only entrants. Underlying both markets is an improved rating environment which is driving growth in particular classes of business.
Lloyd’s claims volumes tracked downwards during 2021 at -4.5%; however, Syndicate Claims Messages increased by 0.6%, and this is aligned to the increase in Treaty and Binder submissions. Central settlement values continue to grow significantly, with a substantial upward increase in value for the company market linked to increased volume of premium transactions. Writeback volumes have shown year-on-year increases, with over 2 million more transactions seen in 2021 than in 2020, due to more customers investing in new claims technology that allows integration across multiple re/insurance platforms.
Across all systems and services, there have been increases in data transferred (messages handled) and documents stored on the IMR.