Forecasts & Results
MAP has released an updated forecast for the 2022 and 2023 years of account for syndicate 2791 and SPA 6103
Posted 06/11/2024 – Forecasts & Results
MAP has released an updated forecast for the 2022 and 2023 year of account for syndicate 2791 and SPA 6103.
Syndicate 2791
The 2022 forecast has improved to a profit between +10.0% and +15.0% of capacity, midpoint +12.5%. The previous forecast range was between +8.0% and +13.0%, midpoint +10.5%.
The 2023 forecast has improved to a profit between +25.0% and +32.5% of capacity, midpoint +28.75%. The previous forecast range was between +22.5% and +30.0%, midpoint +26.25%.
SPA 6103
The 2022 forecast remains unchanged at a loss between -7.0% and -2.0% of capacity, midpoint -4.5%.
The 2023 forecast has improved to a profit between +42.5% and +50.0% of capacity, midpoint +46.25%. The previous forecast range was between +40.0% and +50.0%, midpoint +45.0%.
Alpha comment
The forecasts for 2791 continue to improve. As a reminder, MAP does not include any potential release from the prior years until the year closes at 36 months so we expect further improvement to come.
SPA 6103 continues to forecast a small loss due to Hurricane Ian being a significant major event in 2022. The improved forecast profit for 2023 is one of the strongest of all private capital supported syndicates, highlighting the lack of major catastrophe losses during the 2023 calendar year.
