Coverys has provided us with the latest position on Syndicate 1991.

The syndicate ceased trading at the end of 2020. The run-off plan is for all open years to close simultaneously at the natural (36 month) close of the 2020 year of account. The 2018 account was left open at the end of 2020, and remains open at 31 December 2021. The 2019 account will also remain open at the end of 2021.

The current forecasts are as follows

Year of account

Capacity
£000s

Revised forecast Range

Previous Forecast
Range

Change at
Midpoint

2018

126,750

-74.9% to -64.9%

-67.1% to -57.1%

7.8 points worse

2019

126,750

-30.6% to -20.6%

-28.4% to -18.4%

2.2 points worse

2020

110,000

-32.2% to -22.2%

-29.9% to -19.9%

2.3 points worse

A complete list of all results and forecasts received to date is available here.

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