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 notified by Lloyd’s we confirm that this Syndicate will be a participant in the 4th Auction. The Syndicate qualified on two bases. The SBF change covered by paragraph 4(4)(b)(v) arises from a change in the Syndicate’s gross gross premium that has no impact on the gross net premium income figure in the SBF. We also confirm that the formal feedback from the Lloyd’s Capital Planning Group (CPG) has now been received and this included a £5m capital loading, which accounts for the Syndicate’s inclusion under paragraph 4(3)(c)(i) as it causes the capital requirement to move by more than 10%. The total capital requirement remains at £54.7m as indicated in the previous auction disclosure.
Date issued: 07 November 2014
Agency contact name: Jamie Ingham Clark
Agency contact no: + 44 (0) 20 7280 6290
For auction office use only: D2014020
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