Antares books $1.1bn premiums in 2025 as restructuring cuts legacy drag

UK and Bermuda-based insurer Antares Group reported $1.08 billion in premiums for 2025, as restructuring efforts reduced losses from previously troublesome legacy business while the company launched a $100 million gross written premium commercial initiative across three external syndicates.

The undiscounted combined ratio improved by 1.8 percentage points to 91.2%.

The commercial division, which includes Lloyd’s Syndicate 1274 and the Antares reinsurance business in Bermuda, recorded premiums of $869 million, up 11.4% year on year.

Retail premiums generated by Antares Insurance Company doubled to $100 million in its second year of trading.

Losses in the legacy division declined to $41 million, compared with $62 million in 2024.

Antares accounted for approximately 40% of total group revenue and around half of group profit for Qatar Insurance Company.

Mike van der Straaten, CEO of Antares Group, said: “Our continued financial success in 2025, particularly in the face of significant wildfire and Ukraine losses, is testament to Antares’ robust business model and the strong leadership shown in each of our business units. Our commercial business led by Mark Graham, including Syndicate 1274, continues to grow year-on-year; the retail business led by Pantelis Koulovasilopoulos has reached new heights in the second year of trading for our UK company; and our renewed focus on legacy business led by Jagdis Barber, has curtailed losses in a previously troublesome area of the business.\

Kevin Wenzel, CFO of Antares Group, added: “In 2026, Antares is launching a commercial initiative to initially write just over $100m GWP across three external syndicates: Beat Syndicate 4242, CFC Syndicate 1988, and Africa Specialty Risks Syndicate 2454, which will complement the ongoing success of its own Syndicate 1274.”

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