Hardy has revised its forecast for 2005 year of account...
Hardy has today announced an improved forecast for the 2005 year of account of its managed syndicate 382.
The profit forecast for 2005 is revised to 2.5% to 7.5% from 0% to 2.5%. The forecast for 2004 remains unchanged.
Hardy cited better than expected claims
development during the last quarter for the improved forecast.
Barbara Merry, chief executive, said: "The uplift in the 2005 forecast is testimony to the early prudent reserving
approach taken by the Hardy Underwriting Agencies Board."
