Syndicate 779 Results and Forecasts
Jubilee Managing Agency Limited has confirmed that the 2010 account of Syndicate 779 will not close at the end of 2012. The year end result is a loss of 3.2% of capacity. There is material uncertainty surrounding business written in the Jubilee Europe Service company, which remains under investigation. Nonetheless, the managing agency is hopeful that the year will ultimately be closed with a surplus to Members. The forecast range as at 30 September was between a loss of 1.1% and a profit of 3.9% of capacity.
The range for the 2011 underwriting year is unchanged and runs from a loss of 3.5% to a profit of 1.5% of capacity.
The most recent schedule of results is attached. The remaining results to be reported are shown in pale blue.