Wren Syndicates Management Limited - 2000 Year of Account sees significant upturn in forecast results

Wren Syndicates Management Limited, a leading Lloyd's managing agency owned by Brit Insurance Holdings PLC, has updated its 1999 year of account forecasts and has issued its first forecast for the 2000 year of account.
August 30, 2001

Wren Syndicates Management Limited - 2000 Year of Account sees significant upturn in forecast results

Syndicate 250
Capacity £m 45.8
Previous range % 1.0 - (4.0)
Current range (2.0) - (7.0)

Syndicate 389
Capacity £m 7.6
Previous range % 0 - (5.0)
Current range 2.5 - (2.5)

Syndicate 735
Capacity £m 85.1
Previous range % (27.5) - (32.5)
Current range (27.5) - (32.5)

Syndicate 800
Capacity £m 62.5
Previous range % (7.0) - (12.0)
Current range (7.0) - (12.0)

Syndicate 1202
Capacity £m 41.6
Previous range % 2.0 - (3.0)
Current range 2.0 - (3.0)

Brit continues to have confidence in its initial predictions and reserving methodology.

2000 Year of Account Forecasts

Syndicate 250
Capacity % 50.3
Forecast % 5.0 - 10.0

Syndicate 389
Capacity % 7.6
Forecast % 0 - 5.0

Syndicate 735
Capacity % 85.1
Forecast % (2.5) - (7.5)

Syndicate 800
Capacity % 62.4
Forecast % (7.0) - (12.0)

Syndicate 1202
Capacity % 51.5
Forecast % 7.5 - 12.5

The 2000 year of account has seen a substantial improvement in the Group's forecast results over the previous year, although once again it has aimed to maintain a conservative and prudent approach to its reserving.

Neil Eckert, Chief Executive of Brit Insurance Holdings PLC, said "The 2000 year of account forecasts are further evidence of the turnaround in the group’s fortunes. Three out of our five syndicates have mid range projections of a top line profit with the motor Syndicate 1202 producing a strong forecast result."

Enquiries:

Andrew Holland, Wren Syndicates Management Limited
020 7984 8513

Neil Eckert, Brit Insurance Holdings PLC
020 7984 9510

David Haggie, Haggie Financial
020 7417 8989

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Wren Syndicates Management Limited - 2000 Year of Account sees significant upturn in forecast results

Wren Syndicates Management Limited, a leading Lloyd's managing agency owned by Brit Insurance Holdings PLC, has updated its 1999 year of account forecasts and has issued its first forecast for the 2000 year of account.August 30, 2001

Wren Syndicates Management Limited, a leading Lloyd's managing agency owned by Brit Insurance Holdings PLC, has updated its 1999 year of account forecasts and has issued its first forecast for the 2000 year of account.
August 30, 2001