Argenta 2121 - 2022 and 2023 updated estimates
Argenta has released updated 2022 and 2023 Year of Account estimates for Syndicate 2121, as follows;
| Latest Forecast | Previous Forecast | Mid Point Movement | ||
| Syn 2121 | 2022 | +6.0% to +13.5% | +5.0% to +12.5% | +1.0% |
| 2023 | +6.5% to +16.5% | +5.0% to +15.0% | +1.5% |
Argenta comments;
2022 Year of Account
The improved result forecast on the 2022 year of account is largely attributable to an increase in expected investment income, which is supported by favourable claims development.
2023 Year of Account
The 2023 year of account is also showing an improvement in the quarter. This year has also benefitted from increased investment returns, but the improvement is largely driven by favourable claims experience. This is from both a reduction in the reserves for future major losses as well as in respect of attritional claims.
2024 Year of Account
No estimate is provided for the 2024 year of account at this stage although the year has had a reasonable start and loss ratios are at present broadly tracking the SBF.