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.
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.
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
Agency contact name: Jamie Ingham Clark
Agency contact no: + 44 (0) 20 7280 6290
For auction office use only: D2014015
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