Hiscox has announced its result for the 2016 year of account for syndicates 33 and 6104, an updated forecast for the 2017 year of account and an initial forecast for the 2018 year of account.
The 2016 result of 7.5% of capacity is an improvement on the previous forecast range, which was between -5% and +5% of capacity.
The 2017 forecast range remains unchanged at -10% to 0% of capacity.
The 2018 initial forecast is a result in the range -10% to 0% of capacity.
The 2016 result of 28.9% of capacity is slightly lower than the bottom end of the previous range which was between 30% and 40% of capacity. *
The 2017 forecast range has improved from the range -40% to -30% to -35% to -25% of capacity.
The 2018 initial forecast is a loss in the range -50% to -40% of capacity.
* This reduced result is due to an accounting error which will benefit the 2014 and 2015 years of account and will be accounted for in the next distribution.