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|
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."