Heritage Syndicate Forecasts
May 22 2008 - 8:48AM
UK Regulatory
RNS Number : 0894V
Heritage Underwriting Agency PLC
22 May 2008
FOR IMMEDIATE RELEASE: 22 May 2008
Heritage Syndicate forecasts remain unchanged
Heritage Underwriting Agency plc ("HUA"), the specialist London based Lloyd's insurer, today announces that its forecasts for Syndicates
1200 and 3245 (as at 31st March, 2008) for 2006 and prior and 2007 years of account remain unchanged compared to its forecasts at 31
December 2007.
Worldwide Property Syndicate 1200 (including sub Syndicate 3200 for 2006)
Year of Account Capacity £m Heritage Share Return on Capacity Forecast
Q1 2008 Q4 2007
2006 215 40% +17.5% to +22.5% +17.5% to +22.5%
2007 260 48% +12.5% to +17.5% +12.5% to +17.5%
Non US Liability Syndicate 3245
Year of Account Capacity £m Heritage Share Return on Capacity Forecast
Q1 2008 Q4 2007
2006 49 27% +10.0% to +15.0% +10.0% to +15.0%
2007 55 28% +7.5% to +12.5% +7.5% to +12.5%
All Syndicate current forecasts are based on exchange rate of US$ 1.98 to £1
The Syndicate forecasts are struck after standard personal expenses, such as managing agency and profit commission and all charges that
are levied directly on Syndicates by Lloyd's, but before Members Agents' charges.
For further information:
Heritage Underwriting Agency plc 020 7712 7600
Richard Pexton, Chief Executive
Haggie Financial 02074178989
David Haggie or ZoPocock
KBC Peel Hunt, Nominated Adviser and Broker 020 7418 8900
Guy Wiehahn or Oliver Stratton
ABOUT HERITAGE UNDERWRITING AGENCY PLC
Heritage is an established, specialist insurer based in London and underwriting through Lloyd's of London. Its business is focussed on
underwriting worldwide property and
non-US liability risks.. The worldwide property unit (Syndicate 1200) concentrates on underwriting short-tail risks with an emphasis on
commercial property. The non-US liability unit (Syndicate 3245, merged into Syndicate 1200 with effect from 1st January 2008) underwrites
non-US professional indemnity insurance and other liability classes. For 2008 Heritage manages total premium capacity of £325m, of which
£174m (54%) was capitalised by the Group. Heritage is part of Argo Group International Holdings, Ltd., an international speciality insurer
and reinsurer.
ABOUT ARGO GROUP INTERNATIONAL HOLDINGS, LTD.
Headquartered in Hamilton, Bermuda, Argo Group International Holdings, Ltd. (NasdaqGS: AGII) is an international underwriter of
specialty insurance and reinsurance products in the property and casualty market. Argo Group offers a full line of high-quality products and
services designed to meet the unique coverage and claims handling needs of businesses in four primary segments: Excess and Surplus Lines,
Commercial Specialty, International Specialty and London. Information on Argo Group and its subsidiaries is available at
www.argolimited.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCPUUGCAUPRGPP
Heritage Und. (LSE:HUA)
Historical Stock Chart
From Jun 2024 to Jul 2024
Heritage Und. (LSE:HUA)
Historical Stock Chart
From Jul 2023 to Jul 2024