Coverys Managing Agency Limited has provided us with updated forecasts for the open years of Syndicate 1991. The syndicate ceased trading at the end of the year and there has been deterioration on all years of account. Given the absence of an ultimate successor to the 2018 year of account, Coverys has concluded that it is not possible to close the year at this stage. Forecasts are as follows

 

Year of account Capacity
£000s		 Result/Revised forecast Range Previous Forecast
Range		 Change at
Midpoint
2018 126,750 -33.5% loss -17.1% to -7.1% 21.4 points worse
2019 126,750 -16.2% to -6.2% 1.1% to 11.1% 17.3 points worse

As ever, syndicate forecasts are expressed as a percentage of allocated capacity and are after all standard personal expenses but before members’ agents’ fees and charges.