Cincinnati Global Underwriting Agency Ltd has provided us with the result for the 2020 year of Syndicate 318 and an update to the forecast for the 2021 year. These are as follows:

Year of account

Capacity
£000s

Result / Updated Forecast

Previous Forecast
Range

Change at
Midpoint

2020

232,498

1.1%

-0.6% to 4.5%

0.9 points worse

2021

231,739

4.2% to 9.2%

2.3% to 7.3%

1.9 points better

 

The result on a UK GAAP basis for the calendar year to 31 December 2022 is a profit of £25.8m at a combined ratio of 86.9%.

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.