Forecasts & Results
Meacock Syndicate 727 Updated 2020 & Initial 2021 Year of Account Forecasts
Posted 28/04/2022 – Quick takes
S.A. Meacock has announced released an updated forecast for the 2020 year of account and an initial forecast for the 2021 year of account for its syndicate 727 as at 31st March 2022.
The 2020 forecast range has narrowed to between -6.5% and +8.5% of capacity. The previous range was between -9.0% and 11.0% of capacity. The midpoint remains unchanged at +1% of capacity.
An initial 2021 forecast range of between -8.0% and +12.0% of capacity has been set, midpoint +2% of capacity.
The 2020 forecast has seen the range narrow this quarter, reflecting the reducing uncertainty in the final year of development. We do not yet have the detail but it is likely that only a small amount of prior year reserve release is included in this modest forecast and therefore the ultimate result should improve in the remainder of this year.
It is interesting to see that the initial forecast for 2021 again sees a wide range from worst to best, but with a midpoint at its highest initial level since the 2016 year of account, suggesting more confidence that a positive result is achievable.