Algorithmic Lloyd’s digital attention platform Ki delivered record results for the full year 2025, with profit after tax rising 50% to $110.4 million, compared with $73.6 million in the 2024 financial year.
Ki’s gross managed premium (GMP) for FY25 reached US$1.11 billion, an increase of 6.9% from US$1.04 billion in FY24. Of this amount, $905.5 million was provided by Ki Syndicate 1618 and $205.5 million was provided by capacity partners.
Adjusted profit before tax increased 74% to $171.4 million, compared with $98.5 million in fiscal 2024. Meanwhile, the adjusted undiscounted combined ratio (CoR) was 91.3% this year, compared with 95.2% in fiscal 2024.
Furthermore, the undiscounted CoR was 95.7% in FY25 compared to 98.2% in FY24, and the discounted CoR was 77.3% compared to 83.2% in FY24.
Finally, Ki reported an 11.6% year-on-year increase in offers to brokers and has added QBE as a fourth capacity partner alongside Aspen, Beazley and Travelers.
To recap, in January 2025, Ki completed its separation from its parent company and became an independent entity within the Fairfax Group.
Mark Allan, CEO of Ki, commented: “As Ki celebrates its first full year as an independent business, I am delighted to announce a strong set of results. In a highly competitive market environment, our results demonstrate the strength of the Ki model, combining deep underwriting expertise with industry-leading technology and data.
“We grew premiums by nearly 7% to more than $1.11 billion in 2025, while maintaining a focus on underwriting discipline, with an adjusted combined ratio of 91.3%. I am particularly encouraged by the bottom-line results we achieved as Ki continues to invest heavily in our digital platform, AI capabilities and technology stack as we continue to build an insurance company that reflects not only the current state of the industry but the future state of the industry.”
“In the coming year, we will continue to build on this momentum, redouble our efforts, and go all out to help brokers and their clients conduct complex professional business seamlessly. With artificial intelligence rapidly reshaping the industry, we see Ki’s role as helping the industry embrace new opportunities, and we have the technology and expertise to be at the forefront of the transformation.”
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