Lloyd's managing agency Atrium Underwriting has revised forecasts for one of two syndicates and for its spread portfolio of syndicates managed by third parties.
The forecast for Atrium's marine syndicate 609 in 1998 has been improved from 0%-3% to 2%-4%. The forecast for 1998 for the non-marine syndicate 570 has stayed at -7.5% to -2.5%. First forecasts for the two syndicates in 1999 are -1% to 3% for syndicate 609 and -2.5% to 2.5% for 570.
In the spread portfolio, current forecasts are worse than previously, with the after spread stop loss figure going from -0.9% to -2.3% and the pre-spread stop loss figure going from -3.1% to -4.5%.
Atrium said although underwriting conditions remain difficult in the marine and aviation markets, aggregate loss ratios for 2000 show an improvement over the same point in 1999.
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