Chaucer syndicates writing at favourable rates, says company

Chaucer Holdings said its syndicates were currently writing business at a favourable rate. It had not seen any major losses so far this year, added the company.

"Forecasts for syndicates 1084 and 1096 are very encouraging, although some business is still on risk and the position may change should expected claims and reinsurance experiences worsen," said the group.

Chaucer said its motor insurance syndicate had "benefited from a disciplined underwriting approach in 2002 and remains on target for another good year in 2003."

The company predicted "an excellent result" if current underwriting conditions continued.