News, Press Release / 2nd Mar 2026

Ki announces record results in first year as standalone company

Today, Ki, with its algorithmic Lloyd’s digital follow platform, announces its results for the year ended 31 December 2025, delivering a record financial performance*.

  • Adjusted** Profit Before Tax $171.4m, a 74% increase (2024: $98.5m)

  • Adjusted** Undiscounted Combined Ratio of 91.3% (2024: 95.2%)

  • Undiscounted Combined Ratio of 95.7% (2024: 98.2%) and a Discounted Combined Ratio of 77.3% (2024: 83.2%)

  • Profit After Tax of $110.4m, a 50% increase (2024: $73.6m)

  • Total Gross Managed Premium (GMP) of $1.11 billion, an increase of 6.9% (2024: $1.04 billion), $905.5m written by Ki Syndicate 1618 and $205.5m by capacity partners

  • 11.6% year-on-year increase in quotes delivered to brokers

  • Welcomed QBE as 4th capacity partner alongside Aspen, Beazley and Travelers

I’m pleased to announce an excellent set of results as Ki celebrates its first full year as a standalone business. In a competitive market environment our performance demonstrates the strength of Ki’s model, combining deep underwriting expertise with industry leading technology and data.

Mark Allan

CEO

Mark continues, “In 2025, we grew our premiums nearly 7% to over $1.11 billion while maintaining our focus on underwriting discipline with an adjusted combined ratio of 91.3%. I’m particularly encouraged by the profitable results we’ve delivered at a time when Ki continues to invest significantly in our digital platform, AI capabilities and tech stack as we continue to build an insurer that reflects not just the current but the future state of the industry.

In the coming year, we’ll continue the momentum, doubling down on what we do best; helping brokers and their clients to seamlessly place complex specialty business. With AI rapidly reshaping the sector, we see the role of Ki as helping the industry embrace new opportunities and we have the technology and expertise to be at the forefront of the transformation taking place.”

*Further details of Ki’s financial performance can be found in Fairfax Financial Holdings Limited Q4 earnings update . Presented on an IFRS basis.

** Adjusted figures exclude non-recurring costs incurred in establishing Ki as a standalone entity with the Fairfax Group.

 

(Note: All dollar amounts in this news release are expressed in U.S. dollars. The financial results are derived from unaudited consolidated financial statements prepared using the recognition and measurement requirements of International Financial Reporting Standards as issued by the International Accounting Standards Board (“IFRS Accounting Standards”). This news release contains certain non-GAAP and other financial measures, including gross managed premium and combined ratio (discounted, undiscounted and adjusted), that do not have a prescribed meaning under IFRS Accounting Standards and may not be comparable to similar financial measures presented by other insurers.)