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Nov 06, 2023

QBE Syndicate 386 updated forecasts

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QBE 386 has released updated forecasts for the 2021 and 2022 years of account, as follows;

Latest Forecast Previous Forecast Mid Point Movement
Syn 386 2021 +4.7% to +9.7% +7.6% to +12.6% -2.9%
2022 +9.2% to +14.2% +8.3% to +13.3% +0.9%

QBE commented;

The 2021 & prior year mid-range profit forecast of +7.2% is down on +10.1% previous, due to required reserve strengthening, including a legacy data correction, partially offset by an improved forecast investment contribution.

The 2022 pure year mid-range profit forecast of +11.7% is up on +10.8% previous due to favourable large loss experience.