Forecasts & Results
Beazley Syndicates 623 & 5623 and SPA 6107 2021 Year of Account Result & Updated 2022 Forecast
Posted 12/03/2024 – Quick takes
Beazley has announced the result for the 2021 Year of Account for its syndicates 623 & 5623 and SPA 6107 and has also released an update for the 2022 year of account
Syndicate 623
The 2021 year has closed with a profit of +16.9% of capacity, above the midpoint of the previous forecast range, which was set between +10.0% and +20.0%.
The 2022 forecast is unchanged at between +2.5% and +22.5% of capacity, midpoint +12.5% of capacity.
Syndicate 5623
The 2021 year has closed with profit of +14.0% of capacity, more than double the midpoint of the previous forecast range, which was set between 0.0% and +10.0%.
The 2022 forecast has improved to a range between +2.0% and +12.0% of capacity, midpoint +7.0%, an improvement from the previous forecast range -1.0% and +9.0%, midpoint +4.0%.
Syndicate 6107
The 2021 year has closed with profit of +31.0% of capacity, greater than top end of the previous forecast range, which was set between +10.0% and +30.0%.
The 2022 forecast is unchanged at between +10.0% and +30.0% of capacity, midpoint +20.0%.
Alpha Comment
These are very strong results from Beazley, following excellent 2023 calendar year plc results reported last week.
These positive results were led by outstanding results from the Cyber and Property divisions, the former recording a very favourable outcome with the latter being a very welcome turnaround from previous years.
All divisions produced excellent ratios and the momentum looks to be carried into the ensuing open years.
