
15 Technical Provisions continued
The following tables illustrate the development of the estimates of ultimate cumulative claims incurred,
including claims notified and IBNR, for each successive underwriting year, illustrating how amounts
estimated have changed from the first estimates made.
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Total
Gross amounts
£ '000 £ '000 £ '000 £ '000 £ '000 £ '000 £ '000 £ '000 £ '000 £ '000 £ '000
12 months
10,129 16,174 11,438 17,283 13,361 15,083 16,464 20,656 22,626 20,505
24 months
9,548 15,227 11,494 17,553 14,222 16,432 16,850 23,401 14,449
36 months
9,724 8,701 11,614 16,005 12,028 15,309 15,352 19,305
48 months
9,306 9,232 10,920 13,777 10,238 13,602 13,285
60 months
9,221 9,252 10,870 13,946 9,745 13,113
72 months
9,116 9,112 10,858 12,698 9,571
84 months
9,117 9,119 10,858 12,653
96 months
9,080 9,163 10,861
108 months
9,080 9,163
120 months
9,077
Total Ultimate
Losses (£'000)
9,077 9,163 10,861 12,653 9,571 13,113 13,285 19,305 14,449 20,505 131,982
Provision in
respect of prior
years (2014 and
earlier)
4
Less gross paid
claims (£'000)
(9,077) (9,163) (10,861) (9,686) (9,571) (13,006) (13,015) (18,030) (11,190) (7,212)
Gross claims
reserves
(unearned)
— — — 2,967 — 107 270 1,275 3,259 13,293 21,175
Less unearned
portion of
ultimate losses
(£'000)
— — — — — — — — (146) (6,409) (6,555)
Gross claims
reserves
(£'000)
— — — 2,967 — 107 270 1,275 3,113 6,884 14,620
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Total
Net amounts
£ '000 £ '000 £ '000 £ '000 £ '000 £ '000 £ '000 £ '000 £ '000 £ '000 £ '000
12 months
9,918 16,112 11,309 16,976 12,781 12,938 11,684 15,657 16,894 15,396
24 months
9,419 15,171 11,249 17,118 13,709 13,487 11,692 16,571 9,348
36 months
9,642 8,701 11,569 15,575 11,944 12,443 9,764 13,442
48 months
9,262 9,222 10,920 13,774 10,238 11,084 8,219
60 months
9,178 9,253 10,870 13,933 9,737 10,662
72 months
9,073 9,112 10,858 12,696 9,571
84 months
9,074 9,119 10,858 12,653
96 months
9,037 9,163 10,861
108 months
9,037 9,163
120 months
9,034
Total Ultimate
Losses (£'000)
9,034 9,163 10,861 12,653 9,571 10,662 8,219 13,442 9,348 15,396 108,349
Provision in
respect of prior
years (2014 and
earlier)
4
Less net paid
claims (£'000)
(9,034) (9,163) (10,861) (9,686) (9,571) (10,562) (8,013) (12,451) (6,697) (5,876) (91,914)
Net claims
reserves
(unearned)
— — — 2,967 — 100 206 991 2,651 9,520 16,439
Less unearned
portion of ultimate
losses (£'000)
— — — — — — — — (81) (3,852) (3,933)
Net claims
reserves
(£'000)
— — — 2,967 — 100 206 991 2,570 5,668 12,506
SYNDICATE 3622
NOTES TO THE FINANCIAL STATEMENTS CONTINUED
YEAR ENDED 31 DECEMBER 2024
39