S.A. Meacock and Company Limited has provided us with updated forecasts for the open years of Syndicate 727.

The 2018 account has improved to a range between a loss of 3% of capacity and a profit of 7%. The previous forecast was in a range between a loss of 7% of capacity and a profit of 8%. The improvement at midpoint is therefore 1.5 percentage points.

The 2019 account is unchanged and is forecast in a range between a loss of 9% and a profit of 11%.

All forecasts are expressed as a percentage of allocated capacity and are after all standard personal expenses but before members’ agents’ fees and charges. The updated forecasts are based on data as at 30 June 2020, and the previous forecasts as at 31 March 2020. The forecasts have been calculated using exchange rates of US$1.24:£1 and Can$1.68:£1.

Managing agents are required to submit second quarter returns to Lloyd’s by 6 August. Lloyd’s will release the collated syndicate estimates on Wednesday 12 August.