Beazley Furlonge Limited has shared results and forecasts for the three syndicates it manages on behalf of third party capital. These are as follows:

Syndicate 623

Year of account

Capacity
£000s

Result / Updated Forecast

Previous Forecast
Range

Change at
Midpoint

2020

422,559

-2.5%

-5.0% to 5.0%

2.5 points worse

2021

514,759

-5.0% to 15.0%

-5.0% to 15.0%

unchanged

2022 calendar year combined ratio on a UK GAAP basis is 92.4%.

The 2020 year of account reflects a weaker pure year result than forecast in September; the pure year loss deteriorated from 62% to 67%. Volatility in the investment markets saw the underwriting year suffer a loss on investments.

SPA 5623

Year of account

Capacity
£000s

Result / Updated Forecast

Previous Forecast
Range

Change at
Midpoint

2020

83,455

9.8%

0.0% to 10.0%

4.8 points better

2021

144,180

-3.0% to 7.0%

-3.0% to 7.0%

unchanged

2022 calendar year combined ratio on a UK GAAP basis is 83.8%.

SPA 6107

Year of account

Capacity
£000s

Result / Updated Forecast

Previous Forecast
Range

Change at
Midpoint

2020

69,545

-0.9%

-20.0% to 0.0%

9.1 points better

2021

70,489

0.0% to 20.0%

0.0% to 20.0%

unchanged

2022 calendar year combined ratio 79.4%

A summary of all results and updated forecasts received to date is here