Lloyd's insurer Hardy Underwriting said it had reduced the forecast for Syndicate 382's 2002 year of account due to the weak US dollar.
The forecast for the 2002 year of account is now 13.5% to 18.5%, compared with the previous range of 15% to 20% of capacity.
Hardy blamed the falling value of the dollar against sterling for the downgrading. About 70% of the syndicate's income is in dollars.
Hardy said the 2001 account for Syndicate 382 had closed with a profit of 11.4% of capacity, slightly above the mid-point of the previous forecast of 8.5% to 13.5%. It said the 2003 year was expected to produce a reasonable profit.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
