Syndicate Business Forecasts
Syndicates 570 & 609:
Atrium has reviewed the current Syndicate Business Forecasts (“SBF”) for both Syndicates 570 and 609 taking into account current and anticipated market conditions. As a result, we anticipate that revised business forecasts will be submitted to Lloyd’s this month. Our submission will be subject to final board approval which could lead to further amendments to the changes outlined below.
At this point, we consider that there are no proposed material changes in connection for the 2010 SBF for either syndicate other than those disclosed below:
For Syndicate 609, we anticipate a reduction in the premium income in the energy class from £48.6m to £44.6m and an increase in premium income in the aviation hull and liability class from £31.2m to £35.5m. The movement in overall planned premium income is an increase from £242.4m to £245.0m.
For Syndicate 570, we anticipate an increase in premium income in the Marine, Aviation and Transport class from £17.0m to £21.1m. The movement in the overall planned premium income is an increase from £123.4m to £127.5m.
We will provide updated summaries to Members’ Agents and direct capital providers when the SBF is approved by the board and submitted to Lloyd’s.
The Syndicates’ SBFs are subject to final approval by the Franchise Performance Directorate.
Date issued: 7 September 2009
Contact Information
Agency contact name: James Lee
Agency contact no: + 44 (0)20 7327 8357
For auction office use only: D2009012
