Lloyd's managing agency SVB Syndicates has confirmed its forecasts for the 2001 and 2002 years of account.
Following the revision SVB expects Syndicate 1007 to make a loss in the range 1%-6% for 2001. Syndicate 2147 is expected to make a loss between 0%-5% for the same year.
The Lloyd's vehicle claimed the revision was prompted by the fact that a "significant" amount of its business still on risk.
SVB added that the rating environment in its core markets remains "strongly favourable" and it expects to meet its targets over the next 12 months.
It forecast all its syndicates are expected to produce profits in excess of 10%.
