Increase in 2009 Capacity
In the wake of recent hurricane activity and having regard to the volatile trading conditions in the worldwide financial markets, we have reassessed our premium income projections for next year. As a result, it is our intention to increase the capacity of Syndicate 2121 to £130 million for 2009 and both the supporting capital and Lloyd’s Franchise Performance Directorate (FPD) have approved this increase in capacity.
We have also submitted to Lloyd’s a revised Business Plan reflecting an increase in estimated premium income from £96.9 million to £114.8 million. The FPD, however, has indicated that it wishes to further monitor developments in trading conditions for next year before it is prepared to approve any such increase in premium volumes.
In the meantime and as a result of the increase in capacity, Lloyd’s Auction Official has announced that Syndicate 2121 will trade in the final auction on 13 and 14 November 2008.
Date issued: 10 November 2008
Contact Information
Agency contact name: Peter Bruin
Agency contact no: + 44 (0)7825 7272
For auction office use only: D2008025
