Forecasts & Results

Asta Syndicates 2525, 2689 & 4242 2020 Year of Account Result & Updated 2021 Forecast

Posted 21/02/2023 – Quick takes

Asta has announced its result for the 2020 Year of Account for syndicates 2525, 2689 & 4242 and has also released an update for the 2021 year of account

Syndicate 2525

The 2020 profit of 16.1% of capacity is above the midpoint of the previous forecast range, which was set between +10.0% and +20.0% of capacity.

The 2021 forecast is unchanged at between +0.0% and +15.0% of capacity, midpoint +7.5% of capacity.

Syndicate 2689

The 2020 loss of -20.4% of capacity is just above the midpoint of the previous forecast range, which was set between -26.2% and -16.2% of capacity.

The 2021 forecast loss has improved, from a range of between -23.5% to -13.5% (midpoint -18.5%) to between -20.7% and -10.7% of capacity (midpoint -15.7%).

Syndicate 4242

The 2020 loss of -31.2% of capacity is below the midpoint of the previous forecast range, which was set between -47.6% and -37.6% of capacity.

The 2021 forecast loss deteriorated, from a range of between 0.0% to +10.0% (midpoint +5.0%) to between -2.8% and +7.2% of capacity (midpoint +2.2%).

Alpha comment

We are pleased to see the final result for syndicate 2525 improve at closure, as usual. This strong profit means that the syndicate will again have a produced a top quartile result. The 2021 year is following a similar trajectory and should again be one of the top performing syndicates within members’ portfolios.

Alpha does not recommend support for either syndicates 2689 or 4242. Significant catastrophe events have meant both syndicates have made large losses for the 2020 year. It will be interesting to see whether syndicate 4242 is able to close its 2021 year in profit (as currently forecast) whilst syndicate 2689 is forecasting another large loss.

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