Top 50 Insurers 2026: Berkshire Hathaway International tops IDL’s 2026 underwriting gold awards

Delivering profitable underwriting performance is rarely about a single good year.

While strong current results matter, maintaining profitability over time – or demonstrating a sustained improvement in performance – can be just as important when assessing the strength of an insurer’s underwriting.

That is why Insurance DataLab’s (IDL) proprietary underwriting ratings consider three different measures when analysing insurer performance across the UK, Gibraltar and Lloyd’s markets.

For UK and Gibraltar regulated insurers, the market intelligence firm’s analysis is based on data reported in insurers’ latest Solvency and Financial Condition Reports (SFCRs), calculating the combined operating ratio (COR), aggregate COR over three years and the change in COR over the last 12 months.

For Lloyd’s syndicates, Insurance DataLab uses the same three-part approach to dissect underwriting performance, but assesses underwriting profit relative to gross written premium (GWP) rather than COR.

This looks at each syndicate’s current year underwriting performance, its aggregate underwriting performance over the past three years and the improvement in underwriting result compared with the previous year, using figures reported in the latest syndicate accounts.

The result of this data deep dive is a 2026 Insurance DataLab gold award cohort that has received strong underwriting ratings from the intelligence business, featuring both first time recipients and a number of familiar names that have continued to demonstrate their underwriting credentials.

Leading the way among UK regulated insurers is Berkshire Hathaway International Insurance, which recorded an overall Insurance DataLab underwriting rating of 87% – the highest score among any of this year’s gold award winners.

The insurer reported a COR of just 52% for 2025/26, a substantial improvement from 99.4% a year earlier. This earned Berkshire Hathaway International Insurance a current underwriting performance score of 89%, alongside the maximum 95% score for improvement.

Its longer-term performance was also strong, with an aggregate three-year COR of 77.6% producing a 76% rating under this part of Insurance DataLab’s analysis.

This marks the second time the insurer has picked up a gold award, having previously ranked in the top performers back in 2023.

Pelagos Insurance Capital, the new legal name for Fidelis Group as of May 2026, assumed second place in Insurance DataLab’s UK insurer cohort with an overall rating of 74%, continuing a strong history in these underwriting awards.

It previously collected underwriting awards in 2021 and 2023, meaning this year’s success represents the insurer’s third appearance among Insurance DataLab’s leading underwriters.

Its latest COR of 77.7% for 2025/26 improved from 86% a year earlier, with the insurer receiving a 70% improvement score and a current year COR score of 76%. Meanwhile, an aggregate three-year COR of 84.3% helped the insurer to achieve a 73% score under this metric.

Close behind Pelagos Insurance Capital is Aspen Insurance UK, which achieved an overall underwriting rating of 73%.

Aspen Insurance UK reported a COR of 75.6% for 2025/26, improving from 80.1% in the previous year and 86.6% two years earlier as it continues to record improving results.

Its three-year aggregate COR of 81.7% further underlined consistent progression and earned the insurer a three-year aggregate COR rating of 74%.

Hiscox Insurance also scored 73% overall from Insurance DataLab, returning to the gold award cohort after last being recognised in 2024.

Hiscox delivered one of the more consistently profitable records among this year’s winners, with annual CORs improving from 80% to 77.3% and then 74.7% across the past three years.

This produced an aggregate three-year COR of 77.6% – the joint best amongst this year’s award winners – earning Hiscox a current underwriting performance score of 78%.

Another large commercial lines carrier to feature among 2026’s gold award winners is QBE UK, again with an overall underwriting rating of 73%.

QBE’s COR improved from 93.4% to 83.2% in the latest reporting period, while its three-year aggregate COR stood at 86.7%. The combination of a strong current result, profitable longer-term performance and material year-on-year improvement produced a particularly balanced rating for the insurer.

Further gold awards go to Sabre Insurance, Motors Insurance Company and Travelers Insurance.

Sabre Insurance returned to Insurance DataLab’s gold award hall of fame after previously securing recognition in 2024. It recorded a 2026 COR of 82.7% and a three-year aggregate ratio of 83.9%.

Motors Insurance Company achieved an overall rating of 69%, with its COR improving from 97.5% to 90.1%, while Travelers Insurance rounds out the UK winners with an overall score of 68% after reporting a COR of 89.1% and a three-year aggregate ratio of 91.8%.

Going for gold in Gibraltar

In Gibraltar, Admiral took the top spot with an overall Insurance DataLab underwriting rating of 72%.

Its COR improved from 92.4% to 83.3% over the latest year, while its aggregate COR across the past three years stood at a highly profitable 88.8%. This gave Admiral a balanced set of scores across all three components of the market intelligence firm’s rating and saw it land its first underwriting gold award for 2026.

One Insurance ranked second across the Gibraltar cohort for 2026, with an overall underwriting score of 66% – this marks the business’ first gold award from Insurance DataLab.

Its current year COR of 80% is one of the strongest among Gibraltar’s winners, earning it a current COR score of 75%. Its aggregate performance is similarly impressive, with a three-year COR of 80.8%.

Casualty and General Insurance (Europe) also achieved a 66% overall rating after reporting a COR of 92.5% for the latest reporting period in 2025/26 – a 3.3 percentage point improvement on the previous year and an aggregate three-year COR of 94.7%.

Two previous award winners complete Gibraltar’s gold list for 2026.

AA Underwriting Insurance Company recorded its second consecutive gold award after also featuring among the winners in 2025. Its latest COR improved to 93% for 2025/26, from 94.8% a year earlier, while its aggregate three-year COR of 98.6% remained firmly in profit-making territory.

Nelson Insurance Company, meanwhile, returned to the gold award list after last topping Insurance DataLab’s Gibraltar underwriting awards in 2023.

It recorded an overall underwriting rating of 65% this year, supported by a 95.8% COR and a three-year aggregate result of 96.7%.

Top of the London crop

At Lloyd’s of London, there was little to separate the two highest rated syndicates – with less than one tenth of a percentage point between them.

RenaissanceRe managed Syndicate 1458 edged ahead with an overall underwriting rating of 77%, just beating last year’s winner – Aegis managed Syndicate 1225.

Syndicate 1458 reported an underwriting profit of £92.6m from GWP of £624.3m in its latest accounts, marking a particularly impressive improvement from the previous year. Underwriting profit increased from £18m in 2024/25, helping the syndicate achieve a 95% improvement score to take the Lloyd’s crown for the first time.

And while Syndicate 1458 earned first place, last year’s winner remains hot on its heels.

Syndicate 1225 achieved an overall rating of just under 77%, extending one of the strongest records in the history of Insurance DataLab’s Lloyd’s gold underwriting awards.

The syndicate was already a gold award winner in 2023 before taking the overall Lloyd’s crown in 2025 – therefore, its success this year marks its third underwriting award in total.

Syndicate 1225 generated an underwriting profit of £210.6m for 2025/26 from £835.9m of GWP, while its aggregate three-year underwriting profit reached £506.4m.

These figures resulted in current and three-year underwriting performance ratings of 78% and 75% respectively – the highest ratings under these metrics across all of this year’s gold award winners.

Third place at Lloyd’s goes to Brit managed Syndicate 2987, which achieved an overall rating of 76% for 2026.

Its underwriting profit increased from £32m to £106.5m for 2025/26, driving a maximum improvement score of 95%. Across three years, the syndicate generated a combined underwriting profit of £224.7m.

Axa XL managed Syndicate 2003 followed next in the Lloyd’s ranking with a rating of 73% after increasing underwriting profit from £25.9m to £83.3m. That improvement was an important component of its gold award performance, alongside a three-year underwriting result of £184m.

Meanwhile, Chubb managed Syndicate 2488 also made a return to the gold winners’ list, having previously collected this recognition in 2023.

It recorded one of the strongest absolute underwriting performances among this year’s cohort, generating £126.5m of underwriting profit from £650m of GWP for 2025/26. Its consistency is equally notable, with a three-year underwriting result of almost £340m.

Four further syndicates earned gold awards in 2026. 

Apollo managed Syndicate 1969 achieved an overall rating of 72%, with underwriting profit increasing from £15.5m to £54.2m in 2025/26, while Blenheim Underwriting’s Syndicate 5886 recorded a score of 71% after generating an underwriting profit of £53.4m and a three-year result of £127.9m.

Improvement was particularly important for Tokio Marine Kiln’s Syndicate 510, which moved from an underwriting loss of £7m to a £51.7m profit. This turnaround earned the syndicate an 86% improvement score and lifted its overall underwriting rating to 71%.

Syndicate 2001, managed by MS&AD Insurance Group, also achieved a 71% rating from Insurance DataLab, returning to the gold award ranks after previously winning in 2024. It reported an underwriting profit of £135.6m for the latest year, taking its aggregate three-year result to £348.9m.

Routes to success

Together, Insurance DataLab’s gold winners across the UK, Gibraltar and Lloyd’s demonstrate the different routes that can be taken to underwriting success.

For some, such as Berkshire Hathaway International Insurance, Aegis’ Syndicate 1225 and Chubb’s Syndicate 2488, gold prizes reflect exceptionally strong absolute profitability for a given year. But with so many repeat winners returning to the list, 2026’s scores also demonstrate that consistency of results continues to be rewarded.

The challenge now is to sustain that performance.

Some of this year’s winners have already shown they can return to the gold award ranks, while others are there for the first time. Whether the same names lead the way again in 2027 – or whether improving results elsewhere reshape the list – remains to be seen.