HISCOX LOWERS SYNDICATE 33 FORECAST FOR 2020

Hiscox syndicate 33 has lowered its forecast for the 2020 year of account. The syndicate now expects to report a result of between a loss of 8.5% and a profit of 1.5% of capacity. This compares to the previous estimate for a result between a loss of 7.5% and a profit of 3% of capacity. Syndicate 33 is a leading syndicate at Lloyd’s with capacity of £1.7bn ($2.39bn) for 2020. Hiscox also reported the most recent estimates for much smaller syndicate 6104, with reported capacity of £44m for 2020. These estimates were unchanged for the 2020 year of account at a loss between 28.5% and 18.5% of capacity. For the 2019 year of account, the new estimate is between a loss of between 28.5% and 18% of capacity, an improvement on the previous estimate for a loss of between 30.5% and 20.5% of capacity.