Outlook changed to negative following recent underwriting results. J– B^ (Average) Continuity Opinion of syndicate 2003 affirmed. Outlook changed to negative following more recent years’ underwriting results. J– B (Average) Continuity Opinion of syndicate 318 affirmed. J– B+^ (Above Average) Continuity Opinion of syndicate 2001 downgraded to B (Average) due to continued underperformance relative to its Continuity Opinion peer group. J– B+^ (Above Average), negative outlook, Continuity Opinion of syndicate 3000 downgraded to B^ (Average) following reduced profitability in recent years and the expectation of reducing investment returns that have historically underpinned its results. J– B^ (Average), negative outlook, Continuity Opinion of syndicate 382 downgraded to B-^ (Below Average) with the syndicate’s 5-year average performance remaining in line with benchmarks for the B- Continuity Opinion peer group.
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