Axis blames broker facilities for premium shortfall

Issues around implementation of broker facilities caused Axis
Syndicate 1686 to write 22 percent less premium than planned in
2016, it disclosed in its annual accounts.
The report noted that brokers' continued commoditisation of
business by quota share or facility arrangements had led the
syndicate to consider some of these arrangements and participate on
a small number of them.
"The syndicate achieved 72 percent (2015: 94 percent) of
planned 2016 gross premium written, driven by slower than exp