Forecasts & Results

IQUW Syndicate 218 2020 Year of Account Result & Updated 2021 Forecast

Posted 10/03/2023 – Quick takes

IQUW has announced its result for the 2020 Year of Account for its syndicate 218 and has also released an update for the 2021 year of account

Syndicate 218

The 2020 year has closed with a profit 7.3% of capacity which is towards the higher end of the previous forecast range, set between +3.0% and +8.0% of capacity.

The 2021 forecast range has deteriorated slightly to a range between -4.3% and +5.7% (midpoint +0.7%) of capacity. The previous forecast range was between -4.1% and +5.9% (midpoint +1.0%) of capacity.

Alpha Comment

We are happy to see that syndicate 218 has produced a good profit, its best result since 2005, having benefitted from reduced vehicle use during the various UK COVID-19 lockdowns of 2020, a strong prior years reserve release and a positive investment return.

It is disappointing that the 2021 year of account has moved to just above a breakeven position but with a wide range at this stage.

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