Chaucer Holdings plc has announced its syndicate results and forecasts for trading prospects.
In September 2001, Chaucer's board estimated the WTC losses would be in the region of £8-£12m. It says current indications are that the losses may actually be lower, but feels it is prudent to leave the estimate unchanged for the time being.
For the 2001 year of account, Chaucer is optimistic that syndicate 587 will return to profitability. However, syndicates 1096 and 1084 will suffer WTC losses, and 1084 will also suffer due to other 2001 catastrophes.
The company said it was encouraged by the current trading prospects in the marine and non-marine markets, and feels the motor account is well-positioned to benefit from the progress made in the last two years.
