Capacity Utilisation
As advised in our letter to members’ agents of 19th June 2009, it is proposed to increase Syndicate 386’s capacity from £339.9m to £365.0m for 2010, representing a 7.4% pre-emption. This was supported by an original 2010 Syndicate Business Forecast (SBF) submission to Lloyd’s in June, with a projected gross income (net of commissions) for the year of £339.4m, representing a projected capacity utilisation of 93.0%.
The final SBF submission due to Lloyd’s on 18th September 2009 remains subject to approval by both QUL and Lloyd’s, however is materially unchanged from the original, albeit with a revised projected gross income of £357.5m, resulting in a projected capacity utilisation of 97.9%.
Date issued: 4th September 2009
Contact Information
Agency contact name: Robert Nias
Agency contact no: + 44 (0)20 7105 4000
For auction office use only: D2009009
