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Syndicate Management
Investing at Lloyd's
tax-corporate-services
News
About Us
Syndicate Management
Investing at Lloyd's
tax-corporate-services
News
Hiscox Syndicates Limited has provided us with the following results and updated forecasts for its managed syndicates 33 and 6104. They are as follows:
Syndicate 33
Year of account |
Capacity |
Final Result / Updated Forecast |
Previous Forecast |
Change at |
2022 |
1,699,337 |
12.5% |
6.4% to 16.4% |
1.1 points better |
2023 |
1,698,651 |
10.4% to 20.4% |
7.9% to 17.9% |
2.5 points better |
2024 |
1,697,043 |
3.0% to 13.0% |
n/a |
n/a |
SPA 6104
Year of account |
Capacity |
Final Result / Updated Forecast |
Previous Forecast |
Change at |
2020 |
44,363 |
47.0% |
34.2% to 44.2% |
7.8 points better |
2022 |
12,676 |
36.9% |
21.8% to 31.8% |
10.1 points better |
2023 |
19,429 |
27.7% to 37.7% |
22.5% to 32.5% |
5.2 points better |
2024 |
57,006 |
2.5% to 17.5% |
n/a |
n/a |
Following a group board meeting in February, it was decided that SPA 6104’s 2020 year of account will now close. This year was left open at the end of 2022 due to some uncertainty on the reserves held for business interruption claims arising from Covid-19 related property insurance claims. We have seen a steady improvement in the forecasts since then and Hiscox is now confident to close this year of account, posting a healthy return.
As with previous years, Hiscox has provided an early forecast for the youngest open year, 2024, but this remains indicative, with a more formal forecast to be provided after 15 months of development. Please note that provisions for the recent Californian Wildfires have not been included and these are likely to have a detrimental impact on SPA 6104s forecasts in the coming quarters.
Syndicate results and forecasts are expressed as a percentage of allocated capacity and are after all standard personal expenses but before members' agents' charges.