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Aug 03, 2022

MAP 2791 and 6103 updated forecasts and 2023 pre-emptions

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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."

Pre-Emptions

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.