QBE has advised us of updated forecasts for Syndicate 386’s 2011 and 2012 years of account as at 30 september 2013 as follows:

 

 

Capacity

Forecast as at q2 13

Forecast as at q3 13

2011

364,702,000

21.3% to 26.3%

18.6% to 23.6%

2012

412,391,000

10.5% to 15.6%

9.3% to 14.3%

QBE states that there has not been material movement in either pure year nor in the closed year, but that the deterioration is solely in consequence of a weakening of the Canadian and Australian dollars against sterling.