MAP has released updated forecasts for its managed syndicates 2791 and 6103
|Syn 2791||Latest Forecast||Previous Forecast||Mid Point Movement|
|2020||-5.0% to +2.5%||-5.0% to +2.5%||unchanged|
|2021||-2.5% to +5.0%||-5.0% to +2.5%||+2.5%|
|Syn 6103||Result / Latest Forecast||Previous Forecast||Mid Point Movement|
|2020||-17.5% to -10.0%||-17.5% to -10.0%||unchanged|
|2021||-12.5% to -5.0%||-15.0% to -5.0%||+1.3%|
MAP stated, "The 2021 Year of Account is at an early stage of development and there remain a number of material uncertainties that may affect the ultimate result."
Managing Agency Partners Limited proposes to increase the stamp capacity of Syndicate 2791, for the 2023 year of account, from £400m to £475m (+18.75%) in response to expected premium growth and a strengthening US dollar environment.
With regards to Syndicate 6103, MAP proposes to increase the stamp capacity for the 2023 year of account, from £66m to £76m (+15.15%) in response to expected premium growth and a strengthening US dollar environment affecting the host syndicate (S2791).
Proprosed pre-emptions are subject to capital provider approval and review/approval by Lloyd's capital planning group as part of the 2023 planning process.