Forecasts & Results
Hiscox 33 & 6104 Updated 2024 and 2025 Years of Account Forecasts
Posted 15/05/2026 – Forecasts & Results
Hiscox has released an updated forecast for the 2024 and 2025 years of account for syndicate 33 & SPA 6104 as at 31st March 2026.
Syndicate 33
The forecast for the 2024 year is unchanged with a profit between +3.4% and +15.4% of capacity, midpoint +9.4%.
The forecast for the 2025 year is unchanged with a profit between +3.5% to +13.5% of capacity, midpoint +8.5%.
SPA 6104
The forecast for the 2024 year has deteriorated to a profit between +3.8% and +21.3% of capacity, midpoint +12.6% (previously +7.8% and 25.3%, midpoint +16.6%).
The forecast for the 2025 year is unchanged with a profit between +23.2% to +38.2% of capacity, midpoint +30.7%.
Alpha Comment
There was no change to either the 2024 or 2025 years of account forecasts for syndicate 33 this quarter, but we would expect these to improve over time.
The deterioration on the 2024 year of account for SPA 6104 is due to the Baltimore Bridge collision with the market reserve increasing significantly this quarter to $2.8bn. The 2025 year is unchanged and the forecast continues to look very positive.
