Managing Agent Name: ANV Syndicates Limited
Subject: Disclosures Auction Season 2016
Syndicate 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 2016 year of account (YOA).
Members are also referred to the Business Plan Narrative for the 2016 YOA, other SBF documents, and the Syndicate’s latest financial statements and quarterly returns, 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 2014.
As notified by Lloyd’s we confirm that the Syndicate will be a participant in the 4th Auction. The syndicate has triggered Auction Rule 4(4)(b)(v) because the Syndicate’s gross gross premium for a source of business has changed by more than 10% from the disseminated syndicate business forecast, and that change in gross gross premium in the source of business is greater than 5% of the total disseminated syndicate business forecast.
The £2.5m capital loading applied to the Syndicate for the 2015 YOA relating to Conduct Risk continues to be applied for the 2016 year of account.
The Syndicate continues to be offered the opportunity to participate in consortia arrangements with ANV Syndicate 1861 on Accident & Health, Cyber, Non-marine Liability and Property business. For the 2016 YOA the Syndicate’s participation on the Accident & Health and Cyber consortia has been increased.
Date issued: 9th November 2015
Agency contact name: Jamie Ingham Clark
Agency contact no: + 44 (0) 207 280 6290
For auction office use only: D2015022
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