Forecasts & Results
MAP Syndicates 2791 & 6103 2019 Results & Updated 2020 Year of Account Forecasts
Posted 10/02/2022 – Quick takes
The 2019 result is 7.4% of capacity, which is above the previous forecast range, which was set between 0% and +5.0% of capacity.
The 2020 forecast range is unchanged at between -5.0% to +2.5% of capacity, midpoint -1.25%.
The 2019 result is +23.8% of capacity which was the midpoint of the previous forecast range, set between +20.0% and +27.5% of capacity.
The 2020 forecast range is unchanged at a loss of between -15.0% and -5.0% of capacity, midpoint -10.0%.
It is pleasing to see the 2019 result for 2791 improve at close to a profit of 7.4%, with favourable movements on prior years allowing the syndicate to release £18.5m from the back years. Given that the forecast for 2020 does not include any back year releases, we are hopeful that this year of account will also end up in profit, given the strength of this syndicate’s reserving. SPA 6103 has closed the 2019 year of account with a strong profit, although the forecast loss for the 2020 year of account, following the heightened US catastrophe activity, highlights the potential volatility of returns produced by this SPA.