Catlin Underwriting Agency Limited has confirmed that the figures reported by Lloyd’s yesterday were inaccurate and that the forecast result for Syndicate 6111’s 2015 account should have been reported as a midpoint profit of 10.53% of capacity. This represents a negative movement of 1.12 percentage points from the forecast as reported at 31 December 2016 and not a deterioration of 9.1% as indicated yesterday.

Catlin has also said that the current midcase expectation for the 2016 account is +4.8% of capacity, which is unchanged from the position given at the previous quarter. The year is still immature, so the range of -5% to +10% is appropriate, although is not cast around the midpoint expectation.

We have updated the schedules of forecasts. The forecasts are available here in pdf format and here in excel format.