Forecasts & Results

Blenheim Syndicate 5886 Updated 2022 & Initial 2023 Year of Account Forecasts

Posted 13/05/2024 – Quick takes

Blenheim has released an updated forecast for the 2022 year of account and an initial forecast for the 2023 year of account for its syndicate 5886

Syndicate 5886

The forecast for the 2022 year of account is unchanged at between +5.0% and +12.5% of capacity, midpoint +8.75%.

An initial 2023 forecast range of between +17.5% and +25.0% of capacity has been set, midpoint +21.25% of capacity.

Alpha comment

While the 2022 year of account range is unchanged, Blenheim has slightly downgraded it’s internal view of the ultimate result from +7.4% to 6.9% due to anticipated deterioration on the prior years’ reserves. It is not unusual for Blenheim to issue forecast ranges with an ultimate result which is slightly more pessimistic than the midpoint of the range. This was the case for the 2021 year of account, which appeared to suffer deterioration from the previous midpoint at closure but was actually a little better than the previously reported ultimate forecast result.

The range for the 2023 year of account is a very strong profit, which is very welcome. Once again, the ultimate forecast of +18.8% is a little lower than the midpoint of +21.75%.

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