Syndicates 2791 and 6103
2023 Year of Account forecast result at 30 months
The forecast results for the 2023 Year of Account after deduction of all standard personal expenses but before members’ agency fees are:
Syndicate 2791: A profit between 32% and 37% of allocated capacity (previously 31% to 36%).
Syndicate 6103: A profit between 50% and 55% of allocated capacity (unchanged).
2024 Year of Account forecast result at 18 months
The forecast results for the 2024 Year of Account after deduction of all standard personal expenses but before members’ agency fees are:
Syndicate 2791: A profit between 2.5% and 10.0% of allocated capacity (unchanged).
Syndicate 6103: A profit between 3% and 13% of allocated capacity (previously 0% to 10%).
The 2024 Year of Account is at an early stage of development and there remain uncertainties that may affect the ultimate result.
The results are calculated using the quarter end USD:GBP exchange rate 1.37:1.
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, consequently, any exchange rate volatility may impact the result reported in GBP.
Chris Smelt
July 2025