Dale Syndicate results and updated forecasts

Dale Managing Agency Limited has provided us with the following results and updated forecasts for its managed syndicate 1729. They are as follows:

The deterioration in the 2022 year of account is mainly due to the rapid payment of claims in relation to stranded aircraft in Russia with these being settled on an ex-gratia basis. The syndicate does retain some subrogation rights but generally these claims can be considered to be final. In addition, the healthcare professional liability account saw adverse claims development in the final quarter of the year. The 2023 year of account shows an improvement in the forecast to ultimate between Q3 and Q4 which is encouraging, although the Managing Agent has maintained the same forecast range at this time. An indicative forecast for the youngest open year, 2024 shows promising early signs.

Syndicate results and forecasts are expressed as a percentage of allocated capacity and are after all standard personal expenses but before members' agents' charges.