Forecasts & Results
Beazley syndicates 623, 5623 and SPA 6107 2022 year of account results and updated 2023 forecasts
Posted 12/03/2025 – Forecasts & Results
Beazley has announced its results for the 2022 year of account for syndicates 623, 5623 and SPA 6107 and updated 2023 forecasts.
Syndicate 623
The 2022 year has closed with a profit of +14.74%. This compares with the previous forecast profit in the range of +7.5% to +17.5%, midpoint +12.5%.
The 2023 forecast is unchanged in the range of 0.0% to +20.0%, midpoint +10.0%
Syndicate 5623
The 2022 year has closed with a profit of +14.73%. This compares with the previous forecast profit in the range of +6.0% to +16.0%, midpoint +11.0%.
The 2023 forecast has improved to a profit in the range of +10.0% to +20.0%, midpoint +15.0%. The previous forecast profit was in the range of +5.0% to +15.0%, midpoint +10.0%.
SPA 6107
The 2022 year has closed with a profit of +13.87%. This compares with the previous forecast profit in the range of 0.0% to +20.0%, midpoint +10.0%.
The 2023 forecast is unchanged in the range of -5.0% to +25.0%, midpoint +10.0%.
Alpha comment
Syndicate 623 has again produced a good profit. The closed result included a particularly good investment return for the syndicate at 5.8% of stamp. Beazley has maintained a wide range for syndicate 623 for the 2023 year which is a little unusual at this stage. We would expect the forecast to improve over the final twelve months of development.
Syndicate 5623 has reported its strongest profit to date since inception in 2018. The forecast for syndicate 5623 has improved to the highest level we have seen at the 24 months position. The improvement is from the pure year together with a greater contribution from investment income.
SPA 6107 also closed with a good profit. A strong pure year profit was partially offset by a large prior year top up, due to the need to boost reserves on the 2021 cyber book. The forecast for SPA 6107 also remains unchanged with a 30 points range which seems rather strange at this stage of development.
