We have received results and updated forecasts for the following syndicates:

Atrium Syndicate 609

Year of
account

Capacity
£000s

Result/Revised
forecast range

Previous Forecast
Range

Change at
Midpoint

2014

419,963

17.7% profit

12.5% to 17.5%

2.7 points better

2015

420,061

0.0% to 7.5%

0.0% to 7.5%

Unchanged

2016

420,133

No Forecast at this stage

n/a

 

The calendar year results are as follows:

 

2016

2015

Profit

£36.2m

£68.0m

Gross Written Premium

£412.6m

£383.2m

Net Loss Ratio

47.1%

34.4%

Combined Ratio

92.4%

81.5%

Investment Return

1.5%

0.6%

Richard Harries, CEO of Atrium Underwriters Limited, comments “We are pleased to have produced another solid set of numbers against a backdrop of worsening underwriting conditions. The 2014 YOA result is excellent and reflects the lack of loss activity in calendar years 2014 and 2015.

The 2016 Calendar Year result is in line with our original plan for the year.”

Catlin Syndicate 6111

Year of
account

Capacity
£000s

Result/Revised
forecast range

Previous Forecast
Range

Change at
Midpoint

2014

105,909

8.1% profit

10.1% to 15.1%

4.5 points worse

2015

103,742

9.2% to 14.2%

7.2% to 12.2%

2.0 points better

2016

115,900

No Forecast at this stage

n/a

 

 Barbican Syndicate 6113

 

Year of
account

Capacity
£000s

Result/Revised
forecast range

Previous Forecast
Range

Change at
Midpoint

2014

33,640

11.6% profit

10.9% to 15.9%

1.8 points worse

2014 was this syndicate's last year of underwriting

A summary of all results received to date is available here.

All results and forecasts are expressed as a percentage of capacity and are after all standard personal expenses have been deducted with the exception of members’ agents’ fees and charges.