Subject: 2012 Year of Account SBF
Syndicate Affected: 260
Further to Disclosures D2011004 and D2011006, on 9 September 2011 Canopius Managing Agents Limited (“Canopius”) submitted to Lloyd’s a revised Syndicate Business Forecast for the 2012 year of account. Whilst this shows some improvement on the initial forecast ultimate loss submitted in July, the projected result nevertheless remains a forecast ultimate loss of £2.6m, representing 3.8% of the planned allocated capacity of £69,853,687.
This forecast result is made on a prudent and realistic basis, taking account of the difficult UK motor market environment. Despite this background, we will continue to seek further improvements on the forecast position by targeting additional specialist vehicle business with a focus on underwriting profitability and customer service.
Date issued: 9 September 2011
Agency contact name: Bradley Cass
Agency contact no: + 44 (0) 207 337 3798
For auction office use only: D2011016