Specialty re/insurer IQUW, which was established in 2021, has reported gross written premium of approximately £710m for 2023. This is an increase of 35% on the previous year. It said its combined operating ratio for the year was 80.9%.

Peter Bilsby, chief executive officer at IQUW, said: “I am delighted with the progress we have made throughout 2023, with all divisions contributing positively to the result. We have continued to deliver on our strategy, building out our insight led vision by bringing new, real-time data on-stream for our underwriting and claims teams to support and empower their decision making.

“Our result reflects the huge amount of work that has been delivered across the IQUW team which provides us with a platform for continued growth.”

IQUWs insurance and reinsurance products are distributed through Lloyd’s syndicate 1856.