Wren Syndicates Management, a wholly owned subsidiary of BRIT Insurance Holdings PLC, has just announced its 1999 Wren Marine Syndicate 735 forecasts, with expected losses of 27.5% to 32.5%.
Andrew Holland, managing director of Wren Syndicates Management, said that this was solely the result of the frequency of catastrophes, from Australia and Japan, to Europe and the US, over the past year, and the extent of moderate retentions that these catastrophes had caused.
