Syndicates 6103
Managing Agency Partners Ltd is pleased to announce that the result of the 2023 year of account of Syndicate 6103, after the deduction of all standard personal expenses but before members’ agency fees, is a profit of £40.3 million. This is equivalent to 56.9% of allocated capacity using an exchange rate of US$1.35:£1.
The forecast result for the 2024 year of account, after the deduction of all standard personal expenses but before members’ agency fees, is a profit of between 15% and 22.5% of allocated capacity (previously 10% to 17.5%). A forecast for the 2025 year of account will be issued after assessment of the position as at 31st March 2026.
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.
The Combined Ratio for the 2025 calendar year under UK Generally Accepted Accounting Practices (GAAP) is 55.3%
Chris Smelt
February 2026