Atrium Underwriters Limited has provided us with the result of Syndicate 609’s 2015 account and an update to the 2016 account as follows:

 

year of account

Capacity
£000s

Result/
Revised forecast Range

Previous Forecast
Range

Change at
Midpoint

2015

420,061

13.5% profit

7.5% to 12.5%

3.5 points better

2016

418,764

0.0% to 10.0%

0.0% to 10.0%

Unchanged

2017

420,133

No Forecast at this stage

Although there is no formal forecast for the 2017 account, Atrium advises that its current expectation is for a small loss given the level of natural catastrophes sustained by the syndicate.

As ever, results and forecasts are expressed as a percentage of allocated capacity and are after all standard personal expenses other than members’ agents’ fees and charges.

Atrium has also provided details of the syndicate’s GAAP account for the 2017 calendar year;

 

 

2017

2016

Profit

£11.7m

£36.2m

Gross Written Premium

£467.2m

£412.6m

Net Loss Ratio

51.8%

47.1%

Combined Ratio

99.0%

92.4%

Underwriting Profit

£4.2m

£27.3m

Investment Return

1.2%

1.5%

 

A full listing of all syndicate results and forecasts received to date is attached here.