S. A. Meacock and Co Limited has provided us with an updated forecast for Syndicate 727’s 2015 account and a preliminary forecast for the 2016 account as follows;

 

Year of

account

Capacity

Range as at 31 March 2017

Range as at 31 December 2016

Change at midpoint

2015

£80.7m

1% loss to 14% profit

5% loss to 15% profit

+1.5 points

2016

£80.8m

5% loss to 15% profit

n/a

-

All managing agents are required to make a first formal forecast for the 2016 account on the basis of data as at 31 March 2017. S. A. Meacock is the first to report its numbers, but we expect a number of managing agents to release their forecasts ahead of the disclosure by Lloyd’s to the Stock Exchange due on 17 May.

All forecasts are expressed as a percentage of syndicate capacity and are after all personal expenses other than members’ agents’ fees and charges. The forecasts have been compiled using the rates of exchange prevailing on 31 March 2017, namely US$1.25:£1 and Can $1.67:£1.