Chaucer has released updated forecasts for syndicate 1176.

Chaucer has released updated forecasts for the 2019 and 2020 years of account for syndicate 1176.

Syndicate 1176

The 2019 forecast range has improved to between +30% and +40% of capacity (midpoint +35% profit). The previous forecast range was between +25% and +35% of capacity (midpoint +30% profit).

The 2020 forecast range is unchanged at +15% and +35% of capacity (midpoint +25% profit).

Alpha comment: The syndicate is continuing to forecast some of the best results in Lloyd’s, despite profits slightly diluted due to a lower stamp utilisation than in recent years. The syndicate believes that increased liability limits will be mandated in Europe soon, which should hopefully lead to increased premium and put profits for future years in line with the excellent results achieved to date.