We have received updated forecasts in respect of the 2016 year of account and initial forecasts in respect of the 2017 year of account from QBE Underwriting Limited and from Asta Managing Agency Limited as follows:

QBE Syndicate 386

 

year of account

Capacity
£000s

Revised forecast Range

Previous Forecast Range

Change at
Midpoint

2016

352,164

1.4% to 6.4%

4.0% to 9.0%

2.6 points worse

2017

317,000

3.8% to 8.8%

No Forecast at this stage

QBE comments that the forecast for 2016 has been reduced as the agency has taken a more pessimistic view of the likely investment earnings in calendar year 2018.

Asta Syndicate 1729 (Duncan Dale)

 

year of account

Capacity
£000s

Revised forecast Range

Previous Forecast Range

Change at
Midpoint

2016

89,800

-12.5% to 2.5%

-12.5% to 2.5%

Unchanged

2017

100,000

-17.5% to -2.5%

No Forecast at this stage

 Asta Syndicate 2525 (David Dale)

 

year of account

Capacity
£000s

Revised forecast Range

Previous Forecast Range

Change at
Midpoint

2016

49,827

-11.5% to 1.0%

-14.0% to 1.0%

1.3 points better

2017

50,000

-12.5% to 2.5%

No Forecast at this stage

 Asta Syndicate 4242 (ICAT)

 

year of account

Capacity
£000s

Revised forecast Range

Previous Forecast Range

Change at
Midpoint

2016

95,000

0.0% to 10.0%

-2.5% to 7.5%

2.5 points better

2017

100,000

-33.6% to -23.6%

No Forecast at this stage

Asta Syndicate 5886 (Blenheim)

 

year of account

Capacity
£000s

Revised forecast Range

Previous Forecast Range

Change at
Midpoint

2017

150,000

-20.0% to -15.0%

No Forecast at this stage

 Asta SPA 6123 (ICAT)

 

year of account

Capacity
£000s

Revised forecast Range

Previous Forecast Range

Change at
Midpoint

2016

15,000

-25.0% to -10.0%

-25.0% to -10.0%

unchanged

2017

15,000

-46.4% to -36.4%

No Forecast at this stage

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

A complete list of syndicates where we have received updated forecasts as at 31 March 2018 is attached here. We anticipate a complete list of forecasts to be released by Lloyd’s centrally tomorrow.