Chaucer has said that all in house syndicate forecasts continue to show good improvement for the 2003 underwriting year, while the 2004 year remains on course to produce a third consecutive year of healthy underwriting profits despite hurricane losses.
The group's best estimate of its 2005 hurricane losses remains unchanged from the £52.5m hit on net profits for 2005 forecast on 4 November.
However, Chaucer remains confident in achieving significant overall premium rate increases in 2006.
The company said that this year's minority buy-out of names has increased Chaucer's underwriting interest in Syndicate 1084 to 93% for the 2006 year of account.
Including Syndicate 1176, the Group's total underwriting interests will be £427m for 2006, an increase of £55m or 15% on 2005's total of £372m.
