Argenta Syndicate 2121 2018 Result & Updated 2019 and 2020 Forecasts

Argenta is closing the 2018 year of account for syndicate 2121 and has also released updated forecasts for the open 2019 and 2020 years of account.

Syndicate 2121
The 2018 year is closing with a loss of -12.2% of capacity, having been left open at 31st December 2020. This final result is worse than the midpoint of the previous forecast range -15.0% and -5.0% (midpoint -10.0%).

The 2019 year of account has been left open due to concerns over COVID-19 exposures. The forecast range for this year of account is unchanged at between -20.0% and -5.0% (midpoint -12.5%) of capacity.

The 2020 forecast range has improved to a result in the range -2.0% and +8.0% (midpoint +3.0%) of capacity, as compared with the previous forecast range of between -5.5% and +7.0% (midpoint +0.75%) of capacity.

Alpha comment

Alpha does not recommend support of this syndicate and as such we do not receive additional detail on the development of the account. Whilst the closure of the 2018 year is welcome, it is disappointing that the 2019 year of account has now been left open due to legal issues around the syndicate’s COVID-19 exposures.