Managing Agent Name:           ANV Syndicates Limited                                 

Subject:                                     Disclosures Auction Season 2014

Syndicate(s) Affected:             s.5820

This statement has been prepared by ANV Syndicates Limited (ASL) for the purpose of disclosing to existing and prospective underwriting members of Syndicate 5820 (the Syndicate) information which may be of relevance to such members in considering their participation for the 2015 year of account (YOA).

Members are also referred to the Business Plan Narrative for the 2015 YOA, other SBF documents, the Syndicate’s latest financial statements and quarterly returns, and previous auction disclosures, all of which have either been provided or are available to members (or their representatives as appropriate), and which include information on various changes affecting ASL and/or the Syndicate which have taken place since the end of 2013.

Capital Requirement

As part of the normal Lloyd’s process we have received informal feedback regarding the current view of the Capital Planning Group (CPG) on the Syndicate’s capital requirement. We have been advised that a loading of up to £5m on the SCR is being considered but the exact amount will depend on our ongoing discussions with the Lloyd’s team. ASL is working with Lloyd’s to ensure the CPG’s ultimate decision will be a fair and accurate reflection of the Syndicate’s risk profile.   Additional detail is being made available to Members’ Agents and representatives of existing capital providers. In the same informal feedback Lloyd’s has indicated that it has completed its review of the SBF and accepted it without any material changes. Formal CPG feedback will be provided to ASL by 22nd October 2014.

 

Underwriting Staff

We are pleased to announce that Colin Parker has joined the Consumer Products team as Underwriter responsible for developing the Consumer Products portfolio. Colin joins ANV from Assurant Solutions where he worked predominantly in the development, pricing, reserving, modelling and analysis of creditor, warranty and wireless protection products. 

 

Date issued:                 10 October 2014

 

Contact Information

Agency contact name:  Jamie Ingham Clark

Agency contact no:       + 44 (0) 20 7280 6290

For auction office use only: D2014015

DISCLAIMER: Lloyd's is not responsible for the content of any auction disclosures, and acts merely as publisher of information provided by managing agents. If you have any questions regarding the content, you should contact the relevant managing agent.

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