SVB Holdings said that for the 2005 underwriting year it anticipates a small loss in...
SVB Holdings has said that for the 2005 underwriting year it anticipates a small loss in Syndicate 2147 due to the impact of hurricanes Katrina, Rita and Wilma.
The group said a satisfactory profit is expected from Syndicate 1007 for 2005.
SVB said the forecast loss for the 2002 run-off year for Syndicates 1007 and 1241 has deteriorated by five percentage points, including the impact from discontinued units.
The group added that forecast profitability for the 2003 underwriting year for Syndicates 1007 and 2147 had improved and that forecast profitability for the 2004 underwriting year remained unchanged.
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