Charles Taylor Managing Agency Limited has provided us with the result for Standard Syndicate 1884’s 2015 account and an updated forecast for the 2016 account as follows:

 

year of account

Capacity
£000s

Result/
Revised forecast Range

Previous Forecast
Range

Change at
Midpoint

2015

36,000

-43.1% loss

-45.0% to -40.0%

0.6 points worse

2016

90,000

-39.0% to -27.0%

-20.0% to -10.0%

18.0 points worse

2017

99,990

No Forecast at this stage

 

There has been only very limited movement in the position of the 2015 account in the final quarter.

The material movement in the 2016 account follows a reallocation of the costs of the three hurricanes in 2017, with more than originally anticipated falling to the 2016 account. In addition, both the hull and cargo books of business have deteriorated.

All 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.

This is the final result for syndicates where members advised by Argenta participated for the 2015 year of account.

The schedule of all results is available here.

Lloyd’s will release the full results and updated forecasts, including the aggregate of all aligned syndicates, alongside its global results on Wednesday 21 March 2018.