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May 11, 2022

QBE Syndicate 386 release 2020 and 2021 estimates

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QBE Underwriting Limited has released updated 2020 estimates and a first 2021 forecast for Syndicate 386, as follows;

Latest Forecast Previous Forecast Mid Point Movement
Syn 386 2020 +8.1% to +13.1% +12.5% to +17.5% -4.4%
2021 +11.4% to +16.4% N/A N/A - New

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QBE comments in their letter: "The 2020 & prior year mid-range profit forecast of +10.6% of capacity is down on +15.0% previous, predominantly reflecting adverse year to date market movements on the syndicate’s Fixed Income assets, resulting in revised forecast investment contribution for the year to negative."