Photograph illustrating financial data being analysed

Wren maintains an appropriate level of funds, having regard to the likely exposure to claims. Each Member is underwritten as equitably as possible to achieve the level of funds required for each policy year. This function is undertaken by the Wren’s underwriting team which takes account of the individual characteristics of each Member's business, including claims record, internal systems, management and potential to bring claims.

The underwriters also lead discussions with and offer terms to prospective Members who have been approved by the existing Membership.

Wren's underwriting philosophy is to adopt a measured approach and maintain substantial reserves to avoid sharp fluctuations in premium from year to year. Because Wren operates at cost, any surplus funds may be returned to the Members once claims are settled in respect of particular policy years.

The underwriting team produces all documentation in relation to Members' cover and ensures that this reflects each Member's terms of entry in to Wren.  It is also responsible for negotiating Wren's reinsurance programme which provides protection against the impact of large claims.