Top-quartile syndicates generated a weighted average profit of 32.1% in 2025, against 6.5% for the bottom quartile, in a year when major losses ran at roughly half the nine-year average of 11.2%. SRL said the divergence is entrenched, with top- and bottom-quartile performance separated by 15.1 percentage points over five years and 13.8 points over nine.
