Lloyd's managing agent Heritage Underwriting Agency today announced it closed 2002 with...
Lloyd's managing agent Heritage Underwriting Agency today announced it closed 2002 with a 38% profit of stamp, the third best for any syndicate within Lloyd's.
The percentage of capacity owned by Heritage and its shareholders increased six fold for the 2005 year of account to 50%, and capacity for 2005 stands at £208m.
Forecasts for 2003 are a 20-25% profit, and indications for 2004 were a 5-10% profit of stamp.
Richard Pexton, Chief Executive of Heritage, said: “We have made wholesale changes at Heritage over the past year from securing our capital base to moving offices and re-branding our business. 2005 promises to be an exciting year.”