QBE Underwriting Limited has provided with updated forecasts for the open years of Syndicate 386. These are as follows

Year of account


Revised forecast Range

Previous Forecast

Change at



-1.2% to 3.8%

7.4% to 12.4%

8.6 points worse



18.8% to 23.8%

17.9% to 22.9%

0.9 points better

QBE comments that the deterioration on the 2019 account arises in following movement on the prior years, including loss development on the international and professional indemnity classes. The impacted classes have been subject to extensive remediation and rate improvement since and in consequence of these underwriting actions, the 2020 year continues to develop much more favourably.

Syndicate forecasts are expressed as a percentage of allocated capacity and are after all standard personal expenses but before members’ agents’ fees and charges.

A summary of all forecasts received so far this quarter is attached here.