About Us
Syndicate Management
Investing at Lloyd's
tax-corporate-services
News
About Us
Syndicate Management
Investing at Lloyd's
tax-corporate-services
News
Apollo Syndicate Management Limited have provided the results for the 2022 year of account and updated forecasts for the 2023 year of account for syndicates 1969 and IBOTT SPA 1971 as at 31 December 2024:
Syndicate 1969
Year of account |
Capacity |
Final Result / Updated Forecast |
Previous Forecast |
Change at |
2022 |
450,000 |
4.6% |
1.5% to 6.5% |
0.6 points better |
2023 |
530,000 |
12.5% to 17.5% |
8.0% to 18.0% |
2 points better |
SPA 1971
Year of account |
Capacity |
Final Result / Updated Forecast |
Previous Forecast |
Change at |
2022 |
200,000 |
17.0% |
10.0% to 20.0% |
2 points better |
2023 |
250,000 |
3.5% to 13.5% |
3.5% to 13.5% |
unchanged |
Whilst there is no formal forecast for the 2024 year of account at this stage, both syndicates are currently expected to be profitable. Syndicate 1969 has a GAAP profit of £36m for the 2024 full calendar year (net combined ratio: 97.2%) and SPA 1971 has a GAAP profit of £28.9m (net combined ratio of 86.3%).
Syndicate results and forecasts are expressed as a percentage of allocated capacity and are after all standard personal expenses but before members' agents' charges.