Managing Agency Partners Limited has provided us with updated forecasts for managed Syndicates 2791 and 6103 2018 year of account and initial forecasts for the 2019 year as follows. The forecasts are made after nine and five months of respective development.

Syndicate 2791

 

Year of account

Capacity
£000s

Revised forecast Range

Previous Forecast
Range

Change at
Midpoint

2018

399,453

-5.0% to 0.0%

-5.0% to 0.0%

unchanged

2019

399,607

-5.0% to 5.0%

   

 Syndicate 6103

 

Year of account

Capacity
£000s

Revised forecast Range

Previous Forecast
Range

Change at
Midpoint

2018

47,696

-7.5% to 2.5%

-7.5% to 2.5%

unchanged

2019

48,000

12.5% to 32.5%

   

In a conference call with the active underwriter this morning, MAP confirmed the estimate for 2019 account includes the vast majority of its projected exposure to claims emanating from the Covid-19 outbreak. There will be a very small impact on the 2020 year of account.

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