Syndicate 6103
The result of the 2019 year of account of Syndicate 6103, after the deduction of all standard personal expenses but before members’ agency fees, is a profit of £11.3 million. This is equivalent to 23.8% of allocated capacity using an exchange rate of US$1.35:£1.
The forecast result for the 2020 year of account, after the deduction of all standard personal expenses but before members’ agency fees, is a loss of between 15% and 5% of allocated capacity (unchanged). A forecast for the 2021 year of account will be issued after assessment of the position as at 31st March 2022.
Capital providers are reminded that profits arising from business transacted in US Dollars are distributed in the original currency. The syndicate does not undertake any currency hedging.
James Denoon Duncan
February 2022