Brit Insurance Holdings has updated its forecasts for its managed Lloyd's Syndicates for the 2001 and 2002 years if account.
It said there had been no changes in the forecasts since the last quarter report of August 2003.
2002 Year of Account.
Syndicate Capacity Brit Previous Forecast Range % of Forecast
Number £'000 Share Capacity Range % of
capacity
389 13,945 90.83% (5.0) - (10.0) (5.0) - (10.0)
2040 14,000 0% (5.0) - (10.0) (5.0) - (10.0)
2400 30,000 5% (9.0) - (14.0) (9.0) - (14.0)
2987 450,000 97.78% 10.0 - 15.0* 10.0 - 15.0
Brit said the forecasts assumed a normal level of loss development between now and the closure of the year of account.
2001 Year of Account.
Syndicate Capacity Brit Share Forecast Range Range % of
Number £'000 % of Capacity Capacity
250* 99,872 46.03% (45.0)-(50.0) (45.0)-(50.0)
389 7,633 100% (7.5)-(12.5) (7.5)-(12.5)
429+ 7,943 0% (20.0)-(30.0) (20.0)-(30.0)
735* 74,986 93.32% (60.0)-(67.5) (60.0)-(67.5)
800* 62,470 54.91% (2.5)-(7.5) (2.5)-(7.5)
1202* 69,949 76.73% 12.5 -17.5 12.5 -17.5
2040 14,000 0% (2.5)-(7.5) (2.5)-(7.5)
2400 30,000 5% (2.5)-(7.5) (2.5)-(7.5)
*Syndicates 250, 735, 800 and 1202 merged on 1 January 2002 to form Syndicate 2987.
+On 1 January 2002 Syndicate 429 was merged into Syndicate 389.
