Axa XL has provided us with its first quarter data package which reveals the following movement on the 2018 account of SPA 6111.

 

Capacity
£000s

Revised forecast Range

Previous Forecast
Range

Change at
Midpoint

22,186

-20.6% to -10.6%

-13.7% to -3.7%

6.9 points worse

The syndicate has exposure to losses arising from the Covid-19 pandemic; the most significant are to the political risk and trade credit book, although there are also losses to the contingency and accident and health account. There has been a reduction to the expected investment income in the light of recent market volatility.

The complete list of forecasts received to date is available here. All syndicate forecasts are expressed as a percentage of syndicate capacity and are after all standard personal expenses but before members’ agents’ fees and charges.

Lloyd’s will release the complete list of syndicate forecasts for the 2018 and 2019 years of account on Wednesday 27 May.