Forecasts & Results

Atrium Syndicate 609 2020 Year of Account Result & Updated 2021 Forecast

Posted 14/02/2023 – Quick takes

Atrium has announced its result for the 2020 Year of Account for its syndicate 609 and has also released an update for the 2021 year of account

Syndicate 609

The 2020 profit of 8.0% of capacity is above the midpoint of the previous forecast range, which was set between +5.0% and +10.0% of capacity.

The 2021 forecast range has improved, to a range between +5.0% and +15.0% (midpoint +10%) of capacity. The previous forecast range was between 0% and +10% (midpoint +5.0%) of capacity.

Alpha Comment

The improvement in the 2020 profit is welcome in spite of the dampening of investment returns by unrealised losses across most bond portfolios that has arisen as a result of the rise in global interest rates.

We are pleased by the increase in the profit forecast for 2021, but note that (unsurprisingly) the increase is heavily caveated because of the exposure of the 2021 YoA to possible claims arising out of the western leased aircraft trapped in Russia.

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