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(From Lloyds List)
LLOYD'S managing agency SVB Syndicates reports encouraging developments in its latest quarterly forecasts, writes James Brewer.
The company said that in 2004 rates held up well across the portfolio of business and, 'despite the impact of windstorm losses, the performance of the account at this stage implies healthy and sustained profitability'.
It added that 2003 showed further development, resulting in upward revisions to the forecasts of both its managed syndicates.
Revisions to the 2002 and prior year of account forecasts reflect utilisation in the third quarter of GBP8.1m ...