Managing Agency Partners (MAP), the managing agent of syndicates 2791 and 6103, has issued the latest (June) forecasts for the 2010 and 2011 years of account.

2010 Year of Account forecast result at 30 months (June 2012)

The forecast results for the 2010 Year of Account after deduction of all standard personal

expenses but before members’ agency fees are:

Syndicate 2791: A profit of between 10% and 15% of allocated capacity (previously 8% to 13%).

Syndicate 6103: A profit of between 30% and 40% of allocated capacity (previously 29% to 39%).

2011 Year of Account forecast result at 18 months (June 2012)

The forecast results for the 2011 Year of Account after deduction of all standard personal

expenses but before members’ agency fees are:

Syndicate 2791: A profit of between 6% and 11% of allocated capacity (previously 0% to 10%).

Syndicate 6103: A profit of between 12.5% and 22.5% of allocated capacity (previously 10% to 20%).

HAL Comment

These are all very commendable figures, especially in view of the fact that both the 2010 and 2011 underwriting years of account have had to contend with a large number of losses, and because the estimates have improved