Forecasts & Results
MAP has released an updated forecast for the 2023 and 2024 years of account for syndicate 2791 and SPA 6103
Posted 01/08/2025 – Forecasts & Results
MAP has released an updated forecast for the 2023 and 2024 years of account for syndicate 2791 and SPA 6103.
Syndicate 2791
The 2023 forecast has improved to a profit between +32.0% and +37.0% of capacity, midpoint +34.5%. The previous forecast range was between +31.0% and +36.0%, midpoint +33.5%.
The 2024 forecast has remained in the range of between +2.5% and +10.0% of capacity, midpoint +6.25%
SPA 6103
The 2023 forecast has remained in the range of between +50.0% and +55.0% of capacity, midpoint +52.5%
The 2024 forecast has improved to a profit between +3.0% and +13.0% of capacity, midpoint +8.0%. The previous forecast range was between +0.0% and +10.0%, midpoint +5.0%
Alpha comment
The 2023 year of account is expected to be a stellar year for both MAP 2791 and 6103. It is highly encouraging that syndicate 2791 has increased its forecast range this quarter and before any prior year releases have been realised. As a result, we would expect the range to continue improving over time.
Despite an active hurricane season and LA wildfires (most of the wildfire losses attach to the 2024 year of account), the 2024 year of account is expected to be profitable for 2791 and 6103. It is particularly encouraging that SPA 6103 has improved its forecast range, which we believe is because MAP’s LA wildfire loss estimates have reduced.
