Apollo Syndicate Management Limited has provided us with results and updated forecasts for the 2018 and 2019 years of its managed syndicates as follows:

Syndicate 1969

Year of account

Capacity
£000s

Result/Revised forecast Range

Previous Forecast
Range

Change at
Midpoint

2018

224,516

-1.0% loss

-8.0% to 2.0%

2 points better

2019

249,989

2.5% to 10.0%

2.5% to 12.5%

1.3 points worse

Syndicate 1971

Year of account

Capacity
£000s

Revised forecast Range

Previous Forecast
Range

Change at
Midpoint

2019

130,000

0.0% to 7.5%

0.0% to 10.0%

1.3 points worse

SPA 6133

Year of account

Capacity
£000s

Result/Revised forecast Range

Previous Forecast
Range

Change at
Midpoint

2018

35,000

-23.9% loss

-27.5% to -22.5%

1.1 points better

2019

50,000

-15.0% to -5.0%

-12.5% to -2.5%

2.5 points worse

Apollo has also provided results for the syndicates on a GAAP basis for the 2020 calendar year

 Syndicate

Results

Combined ratio

1969

£7.1m profit

99.4%

1971

£3.9m profit

88.8%

6133

£15.8m loss

153.2%

 

Syndicate results and forecasts for the years of account are expressed as a percentage of allocated capacity and are after all standard personal expenses but are before members’ agents’ fees and charges.