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Syndicate 386 stays on track.
(From Lloyds List)
A TOP liability syndicate at Lloyd's is on track to maintain its near-unblemished 30 year profits record in 2004, writes James Brewer.
Syndicate 386, run by managing agent Limit Underwriting within the QBE group, appears to have safely put behind it the one loss year of 2001.
However, active underwriter David Constable is keenly aware of challenges in his speciality, which encompasses general liability, employers' liability and professional indemnity.
It has just revealed its business plan for 2005, which involves a reduction in capacity to GBP425m, from the GBP500m in 2004.
While most facilities at Lloyd's are reducing their underwriting for the year ahead, the 15% drop recognises that the 2004 plan at the syndicate may have been too optimistic.
The market on the company side, direct ...
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