Insights

MAP Syndicates 2791 & 6103 2018 Results & Updated 2019 Year of Account Forecasts

Posted 18.02.2021 – Quick takes

MAP has announced its results for the 2018 year of account for its syndicate 2791 and SPA 6103 and has also released updated forecasts for the 2019 year of account.

Syndicate 2791
The 2018 result of 2.9% of capacity is above the midpoint of the previous forecast range, which was set between 0% and 5.0% of capacity.
The 2019 forecast range has narrowed, from -4.0% and 6.0% of capacity to between -2.5% to 5.0% of capacity.

Syndicate 6103
The 2018 result of -0.3% of capacity is marginally below the midpoint of the previous forecast range, which was set between -2.5% and 2.5%% of capacity.
The 2019 forecast range has narrowed, from 16.5% and 33.5% of capacity to between 20.0% to 30.0% of capacity.

Alpha comment

The inclusion of a 4% prior year release at the closure of the year contributed to the recent improvement in the creditable 2018 result of syndicate 2791. A positive result for the 2019 year is forecast, and profits in each of these two difficult years would underline MAP’s standing as a leading performer at Lloyd’s. That SPA 6103, a catastrophe specialist, has produced only a marginal loss in 2018 and is forecasting a strong profit for 2019, reinforces this reputation.

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