Correction - Syndicate 5886 - 2020 year of account
We posted forecast results for the 2019 and 2020 years of account yesterday along with a narrative describing some of the issues influencing the forecasts. This included a comment around the spate of US catastrophe losses and the observation that a number of syndicates with a large reinsurance or direct property accounts are currently forecasting a loss on the 2020 year of account. We included Blenheim Syndicate 5886 in a list of examples.
While Blenheim 5886 does indeed write a book of business that includes a large proportion of US property reinsurance and direct property in the USA, the forecast for the 2020 year is currently set in a range between break even and a profit of 10% of capacity.
The schedule of forecast results (here) is nonetheless correct. We are sorry for an inconvenience or confusion caused.