Syndicates 6103
The result of the 2021 year of account of Syndicate 6103, after the deduction of all standard personal expenses but before members’ agency fees, is a loss of £2.4 million. This is equivalent to a loss of 3.7% of allocated capacity using an exchange rate of US$1.27:£1.
The forecast result for the 2022 year of account, after the deduction of all standard personal expenses but before members’ agency fees, is a loss of between 10% and 2.5% of allocated capacity (unchanged). A forecast for the 2023 year of account will be issued after assessment of the position as at 31st March 2024.
Capital providers are reminded that profits/losses arising from business transacted in US Dollars are distributed/collected in the original currency. The syndicate does not undertake any currency hedging.
Chris Smelt
February 2024