Managing agents will be submitting second quarter returns to Lloyd’s over the coming couple of weeks. These returns will include updates on the forecast results for the 2020 and 2021 underwriting accounts as at 30 June 2022. 

The first managing agent to provide an update to the forecasts is S A Meacock & Co Limited in respect of Syndicate 727. It has provided us with the following updated forecasts:


Capacity £000s

Revised forecast range

Previous forecast range

Change at midpoint



3.0% loss to 7.0% profit

6.5% loss to 8.5% profit

1 point better



8.0% loss to 12.0% profit

8.0% loss to 12.0% profit


Meacock comments that the 2020 account has been impacted by the volatility in investment markets, with the syndicate making a loss on its US dollar bond portfolio. This loss is currently unrealised, and the increasing interest rates will benefit the 2021 and 2022 underwriting accounts in due course. 

Syndicate forecasts are expressed as a percentage of allocated syndicate capacity and are after all standard personal expenses, but before members’ agents’ fees and charges. The forecasts have used the quarter end rates of exchange of US$1.21:£1 and Can$1.57:£1.

Many managing agents will release their own forecasts to us ahead of the complete list from Lloyd’s that will be released via the stock exchange on 17 August.