04 Executive Summary
Key Insights from your 2024 Survey include:
Peer Group Ranking
Overall Ranking (from 29 Markets)
Overall NPS Score (vs Average of -5)
A top 5 position overall in 8 of the 33 Lockton Business Units relevant to AGCS
What is going well?
Financial & Political Risks – AGCS are one of the few insurers able to globally front for captives and have no cap on exposure under their fronting arrangements.
Onshore Construction – Able to find solutions to challenging risks and have good technical knowledge, response times and capacity.
Power & Renewables - Recent restructure has improved efficiency.
Upstream Energy – Good pricing and can lead on CAR projects.
Construction Investments - AGCS are able to offer lead capacity on more challenging risks.
International Construction - Recognise the value of the Lockton pipeline and offer more support for access to the portfolio.
UK Construction – The team are quick to respond, have a large capacity of deployment and are willing to lead on major construction projects.
Belfast - AGCS issue documents in a timely manner.
Birmingham - Respond quickly to broking presentations.
London Retail – AGCS are flexible, responsive and are strong at underwriting complex global programmes and providing cross class solutions.
Manchester Corporate - Very strong when leading complex global programmes.
Casualty NA - AGCS have a professional approach and can provide structured deals.
Crisis Management - The team are very responsive, have very good capacity and are willing to deploy large lines.
Property ROW - Contract certainty is a strength for AGCS.
Management Liabilities – Strong at underwriting multinational programmes, have good global capabilities and the team regularly engage with Lockton to communicate their underwriting rationale.
National PI Construction & Property – Regular engagement with the team visiting the Lockton office weekly.
National PI Misc/Recruitment - AGCS are excellent at meeting and engaging with our clients.
National PI Regulatory – Provide good pricing on primary leads for complex programmes and are good in F2F meetings.
National PI Solicitors E&W – Lockton team appreciate that AGCS are communicative and reject risks early in the process.
National PI Solicitors Scotland - AGCS are quite responsive in comparison to other markets.
Private Clients - AGCS are able to cover motorsport risks.
Profession PI Construction & Property – Provide wide coverage, have good global capabilities and can write primary for complex risks and major accounts.
Professions PI Solicitors & Accountants – AGCS team communicate their appetite well and it is easy to develop relationships with their team.
Marine Cargo – Can issue local policies and the team are committed when risks are within core appetite.
Marine Hull – Good presence in the market, fast turnaround times and can be flexible to offer a good deal.
Areas for Improvement for AGCS?
Financial & Political Risks – Turnaround times is an area that could be improved upon.
Onshore Construction – AGCS could aim to be more flexible around pricing and coverage.
Power & Renewables – It would be beneficial for AGCS to consider larger line sizes whilst also being more competitive and responsive.
Construction Investments - Could build upon increasing their lead capacity further and reduce DSU rating expectations.
International Construction - AGCS should improve 'Meet & Greet' sessions and communicate appetite with conviction.
UK Construction – Flexibility on coverage and wording could be improved. AGCS could improve response times via ECF and provide escalation points when timelines are not met.
Belfast – Communication needs improvement.
Birmingham – AGCS could be more aggressive with pricing.
London Retail – Despite some of the team being flexible, commercial and responsive, this can be inconsistent and is underwriter dependent. It would also be beneficial for AGCS to broaden and articulate appetite more clearly.
Manchester Corporate - Be more proactive on property risk engineering and develop regional relationships.
Casualty NA – AGCS could consider broadening appetite.
Crisis Management – To improve, AGCS could widen appetite and be more flexible on some difficult territories and wordings.
Property ROW - AGCS should buy more Fac with Lockton and be more flexible.
Management Liabilities – Flexibility around pricing, particularly smaller risks, could be improved. It would also be useful if the team could share more claims examples and trends.
National PI Construction & Property - AGCS could be more flexible.
National PI Regulatory - Although pricing for complex programmes is a strength, AGCS could be more competitive on smaller sized risks as they are not aligned with the rest of the market.
National PI Solicitors E&W – Increased connectivity between the London and regional teams would be good.
National PI Solicitors Scotland - Pricing is an area for development.
Professions PI Construction & Property - Clearer communication of internal delineations between products/teams and Multinational offering.
Professions PI Solicitors & Accountants – AGCS could broaden their appetite and improve flexibility on pricing.
Marine Cargo - Wider appetite would be beneficial.
Marine Hull – Breadth of appetite could be developed and AGCS could consider writing War business.
Through 2025, let’s address these areas for improvement together – and keep building on your many strengths.
Peer Group
