BF Caudle Agencies reports that its non-marine syndicate 780 produced profts of £12.6m for the 1997 year of account.
The Caudle syndicate 780 currently operates at Lloyd's, with an underwriting capacity of £85m.
The 1997 profit equates to 22.9% of underwriting capacity (which was £55m in 1997), putting it in line with the previous forecast profit of 22.5%.
The pure year forecast for the 1998 account is a loss of between 10% and 15%. Managing director Keith Thompson said a forecast for 1999 would be made by June.