Specialist Lloyd's managing agency Heritage Underwriting has announced profits of 28% and 17%, for its two managed syndicates in 2003.
Syndicate 1200 and Syndicate 3245 closed the 2003 year of account with “excellent results”.
The company forecasts that the 2004 year of account will also remain positive and strong.
It said predictions for 2005 show a modest loss on capacity for Syndicate 1200, which has been adversely affected by the US windstorms.
However the forecast for Syndicate 3245 is a positive 10%, which Heritage described as “highly creditable”.
Richard Pexton, Chief Executive of Heritage, said: “Although Syndicate 1200 shows a loss, it compares favourably to many of our competitors. The events of 2005 have had a dramatic impact on the market we operate in and presents tremendous opportunities for Heritage in the future”.
The agency said it will continue to grow and recruit new teams of quality individuals.
