Managing Agency Partners Limited has proved us with year-end results for its managed syndicates as follows:

Syndicate 2791

 

Year of account

Capacity
£000s

Result/Revised forecast Range

Previous Forecast
Range

Change at
Midpoint

2018

399,453

2.9% profit

0.0% to 5.0%

0.4 points better

2019

399,607

-2.5% to 5.0%

-4.0% to 6.0%

0.3 points better

 SPA 6103

 

Year of account

Capacity
£000s

Result/Revised forecast Range

Previous Forecast
Range

Change at
Midpoint

2018

47,696

-0.3% loss

-2.5% to 2.5%

0.3 points worse

2019

47,548

20.0% to 30.0%

16.5% to 33.5%

unchanged

Forecasts for the 2020 accounts of both syndicates will be made following an assessment of the position as at 31 March 2021.

On Syndicate 2791, MAP adds that the result includes a release from reserves held for the 2017 and prior years of account of £16m and reports that the combined ratio for the syndicate on a UK GAAP basis is 94%.

All syndicate results and forecasts are expressed as a percentage of syndicate allocated capacity and are after all standard personal expenses but before deduction of members' agents’ fees.