AmTrust Syndicates Limited has provided results and updated forecasts for Syndicates 779 and 5820 as follows:

Syndicate 779

 

year of account

Capacity
£000s

Result/
Revised forecast Range

Previous Forecast
Range

Change at
Midpoint

2014

22,281

-11.5% to -6.5%

-11.5% to -6.5%

Unchanged

2015

22,241

-9.0% to -4.0%

-9.0% to -4.0%

Unchanged

2016

22,176

-35.0% to -25.0%

-30.0% to -20.0%

5.0 points worse

Both the 2014 and 2015 accounts remain open. The syndicate ceased underwriting new and renewal business at the end of 2016 and it remains AmTrust’s expectation that the open 2014, 2015 and 2016 accounts should close simultaneous at the end of 2018.

The year-end spot results are as follows:

 

year of account

Capacity
£000s

Result at 31 December 2017

Result at 31 December 2016

Calendar year movement

2014

22,281

8.12% loss

8.69% loss

0.57 points better

2015

22,241

7.41% loss

n/a

Syndicate 5820

 

year of account

Capacity
£000s

Result/
Revised forecast Range

Previous Forecast
Range

Change at
Midpoint

2015

130,943

-5.2% loss

-7.5% to -2.0%

0.5 points worse

2016

131,046

-15.0% to -5.0%

-10.0% to 0.0%

5.0 points worse

Syndicate 5820 did not trade with third party capital in 2017.

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.

The summary of all results and forecasts received to date is available here.