A MAPA is a spread fund of syndicates that is selected by Hampden Underwriting Research (“HUR”). HAL operates 8 MAPA funds for the 2012 account, whose collective total underwriting amounts to £326.9 million. A significant advantage of trading in a MAPA is that an individual Member does not have to make decisions about which of his syndicates to trade in the capacity auctions, as this is the responsibility of the MAPA Manager.
Since 2008, HAL has started a new MAPA for our new Members each year. It is HAL’s intention to set-up a MAPA for new Members for the 2013 account. As a general rule, HAL would recommend that all new Members consider joining the new MAPA as this may be the easiest and most cost-effective way for new Members to enter the Lloyd’s market in the first instance.
HAL publishes an annual MAPA report which is sent to all members of the MAPA in question. This covers the performance of the MAPA, gives forecasts and a commentary on the trading prospects of each MAPA. This is available on request.