QBE Syndicate 386 2018 Result & Updated 2019 Forecast

Posted 26/02/2021 – Quick takes

QBE has announced its result for the 2018 year of account for its syndicate 386 and has also released an updated forecast for the 2019 year of account.

Syndicate 386
The 2018 result of -1.0% of capacity is an improvement on the midpoint of the previous forecast range, which was set between -5.1% and -0.1% of capacity.
The 2019 forecast range has improved, from between 4.2% to 9.2% of capacity to between 8.9% and 13.9% of capacity.

Alpha comment

Whilst we welcome an improvement at the close of the 2018 year, it is disappointing that the syndicate made a small loss having been profitable every year since the close of the 2000 year. Happily the 2019 forecast has again improved and is now forecasting a double-digit profit which, if achieved, will inevitably place it in the top quartile of performers for 2019.

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