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Hiscox updates syndicates' estimates and 2013 capacity plans
Hiscox has updated the estimates for syndicates 33 and 6104 in a news release to the LSE available in full here
Our extract as follows:-
| Syndicate | Year of account | Current estimate | Previous estimate |
| 33 | 2010 | -5.0% to 5.0% | -5.0% to 5.0% |
| 33 | 2011 | -5.0% to 5.0% | -12.5% to 2.5% |
| 6104 | 2010 | 0.0% to 15.0% | 0.0% to 15.0% |
| 6104 | 2011 | 5.0% to 20.0% | -10.0% to 10.0% |
In a separate announcement, Hiscox states
"A full 2012 business forecast for Syndicate 33 has been submitted to Lloyd's. Hiscox is required to make this public at this early stage of the year due to the participation on its Syndicates by third party capital.
At this early stage Hiscox envisages a 2013 capacity of £950 million for Syndicate 33, unchanged from 2012.
A final plan will be submitted to Lloyd's later in the year which may involve a change to Syndicate 33's capacity following the US hurricane season.
Hiscox manages Special Purpose Syndicate 6104 solely on behalf of third party capital providers. Hiscox is targeting a 2013 capacity for Syndicate 6104 of £50 million. Hiscox also manages and provides all of the capital for Hiscox Syndicate 3624."