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Apollo Syndicates results and forecasts

Apollo Syndicate Management Limited had provided us with results and updated forecasts for its managed syndicates as follows:

Syndicate 1969

Year of account	Capacity £000s	Result / Updated Forecast	Previous Forecast Range	Change at Midpoint
2020	250,000	1.9%	-1.5% to 3.5%	0.9 points better
2021	295,000	-1.0% to 4.0%	-3.0% to 4.5%	0.8 points better

The GAAP result for the 2022 calendar year is a profit of £33.5m, at a combined ratio of 89.1%

Syndicate 1971

Year of account	Capacity £000s	Result / Updated Forecast	Previous Forecast Range	Change at Midpoint
2020	115,000	0.3%	-3.5% to 4.0%	unchanged
2021	115,000	5.0% to 15.0%	2.5% to 12.5%	2.5 points better

GAAP result for the 2022 calendar year is a profit of £11.5m, at a combined ratio of 85.3%

SPA 6133

Year of account	Capacity £000s	Result / Updated Forecast	Previous Forecast Range	Change at Midpoint
2020	60,000	-38.2%	-44.0% to -39.0%	3.3 points better
2021	65,020	0.0% to 5.0%	-2.5% to 2.5%	2.5 points better

This special purpose arrangement ceased trading at the end of 2021.

A summary of all results and updated forecasts received to date is here.

Syndicate results and forecasts are expressed as a percentage of capacity and are after all standard personal expenses but before members’ agents’ fees.

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Apollo Syndicates results and forecasts

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