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  "documentTitle": "Lloyd’s and Bermuda",
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  "notes": "The slide highlights a significant jump in capital loadings from 2018 to 2019, attributed to premium risk, reserve risk, and business plan optimism.",
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      "text": "Syndicate capital requirements have increased by circa 10% for 2019",
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      "text": "Economic Capital Assessment vs Exposure (Premium plus Reserves)",
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      "text": "Lloyd's view of risk has increased resulting in a material increase of £800m (+5%) in the Market Wide Syndicate Capital Requirements (\"MWSCR\"). Over the year, there was also a large increase in capital loadings at a syndicate level which reflected the challenging market. Ultimate capital loadings increased from £251m (year end 2017) to £1,476m (year end 2018), representing a 10% increase, with loadings applied to 75 syndicates (up from 21 for the previous year). 77% of loadings related to either Premium Risk, Reserve Risk, or optimism in business plans. This reflects Lloyd's view of challenging market conditions and potential risks associated with a soft underwriting and reserving cycle.",
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      "text": "ECA as a % of net premium plus half net reserves: 71%",
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      "text": "Source: Lloyd's Syndicate Capital Briefing 28 February 2019",
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      "text": "Actually, market conditions have hit capital the hardest!",
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