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Nov 04, 2022

QBE 2020 and 2021 forecasts for Syndicate 386

Image for QBE 2020 and 2021 forecasts for Syndicate 386

QBE released the following estimates for Syndicate 386

Latest Forecast Previous Forecast Mid Point Movement
Syn 386 2020 -6.6% to -1.6% +0.2% to +5.2% -6.8%
2021 +12.7% to +17.7% +11.1% to +16.1% +1.6%

QBE commented:

"The 2020 & prior year mid-range forecast loss of -4.2% of capacity is down on +2.7% previous, reflecting a £21.6m negative movement in the period, comprising:

  • £10.1m investment forecast reduction due to continued adverse market movements on the syndicate’s Fixed Income assets.
  • £14.9m adverse prior year large loss experience arising from both PI and International Liability accounts.
  • £3.4m benefit from GWP and Non-technical account improvements

The 2021 pure year mid-range profit forecast is +15.2% of capacity vs +13.6% previous, reflecting positive year to date experience. Investment profit contribution has been maintained at zero and will remain subject to quarterly review."