Forecasts & Results
Beazley has released an updated forecast for the 2022 and 2023 years of account for syndicates 623 and 5623 and SPA 6107
Posted 19/08/2024 – Forecasts & Results
Beazley had announced an updated forecast for the 2022 and 2023 years of account for syndicates 623 and 5623 and SPA 6107 as at 30th June 2024.
Syndicate 623
The 2022 forecast range has narrowed to between +7.5% to +17.5% of capacity (midpoint +12.5% profit). The previous forecast range was between +2.5% and +22.5% of capacity (midpoint +12.5% profit).
The 2023 forecast range has improved to between 0.0% and +20.0% of capacity (midpoint +10.0% profit). The previous forecast range was between -5.0% and +15.0% of capacity (midpoint +5.0% profit).
Syndicate 5623
The 2022 forecast range has improved to between +6.0% and +16.0% of capacity (midpoint +11.0% profit). The previous forecast range was between +2.0% and +12.0% of capacity (midpoint +7.0% profit).
The 2023 forecast range has improved to between +3.0% and +13.0% of capacity (midpoint +8.0% profit). The previous forecast range was between -1.0% and +9.0% of capacity (midpoint +4.0% profit).
SPA 6107
The 2022 forecast range has remained in the range of between +10.0% and +30.0% of capacity (midpoint +20.0% profit).
The 2023 forecast range has remained in the range of between -5.0% and +25.0% of capacity (midpoint +10.0% profit).
Alpha comment
For 2022, 623 and 6107 maintained their midpoint forecasts but a good improvement has been forecast for 5623 to a midpoint profit of +11.0%, in line with expectation.
For 2023, improvements have been reported for 623 and 5623 which had both seen the bottom end of their range move out of negative territory. In many cases the range remains very wide as Beazley is being cautious on the potential uncertainty of the outcome.
