ERS Syndicates Limited has advised us of the result for Syndicate 218’s 2016 year of account and updated the forecast for the 2017 year of account as follows:

 

Year of account

Capacity
£000s

Result/ Revised forecast Range

Previous Forecast
Range

Change at
Midpoint

2016

359,462

-6.9%

-9.8% to 0.2%

2.1 points worse

2017

478,865

-1.8% to 8.2%

-2.2% to 7.8%

0.3 points better

 

There is no forecast for the 2018 account at this stage, with the first estimate due to be released in May based on data to the end of March 2019.

The ERS group also released the results for the year to the end of 2018 on a Generally Accepted Accounting Practice (GAAP) basis today, which show profit for the year of £11.1m and a combined ratio of 96.1%. Further details can be found here.

The schedule of syndicate results and forecasts can be found here. As usual, all syndicate results are expressed as a percentage of capacity and are after all standard personal expenses other than members’ agents’ fees and charges.