Syndicate 6103
The result of the 2022 year of account of Syndicate 6103, after the deduction of all standard
personal expenses but before members’ agency fees, is a loss of £0.4 million. This is equivalent
to a loss of 0.6% of allocated capacity using an exchange rate of US$1.25:£1.
The forecast result for the 2023 year of account, after the deduction of all standard personal
expenses but before members’ agency fees, is a profit of between 47.5% and 55.0% of allocated
capacity (previously 42.5% to 50.0%). A forecast for the 2024 year of account will be issued after
assessment of the position as at 31st March 2025.
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
March 2025