Forecasts & Results
Chaucer Syndicate 1176: 2019 Result and Updated 2020 Forecast
Posted 18/02/2022 – Quick takes
Chaucer has announced its result for the 2019 year of account for its syndicate 1176 and has also released an updated forecast for the 2020 year of account.
The 2019 result of a profit of +38.4% of capacity is at the top end of the previous forecast range, which was set at between +30% and +40% of capacity, midpoint +35%
The 2020 forecast range is unchanged at between +15% and +35% of capacity, midpoint +25%.
This syndicate continues to be one of top performers within Lloyd’s, producing an excellent profit for the 2019 year of account, towards the top end of its forecast range. There are no notable losses notified to date on the open years, which gives us little reason to suggest a similar level of profit will not be achieved on the 2020 year of account. The syndicate is hopeful that it will be able to write more income in 2022, following the ratification of the increased liability limits mandated in Europe, which should enhance the premium utilisation as percentage of stamp, since the stamp capacity is unchanged for 2022.