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Advent back in form after last year's gloomy figures.
(From Lloyds List)
Byline: Managed syndicate set to report major loss for 2005, writes James Brewer
LLOYD'S business Advent is heading for a big 2005 loss at its managed syndicate 780 but sees a good chance of profits in 2006.
A first forecast has shown a loss ranging from 72.5% to 82.5% of capacity.
Advent itself had an GBP82m ($143m) participation on the account a little over half of capacity.
This followed a negative outcome for 2004, where the estimate is for a loss of 17.5% to 22.5% of capacity, with Advent having provided GBP103m.
In contrast, there was a healthy profit in 2003 of 27.5% of stamp, Advent having put up GBP107m.
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