Managing Agency Partners Limited has provided us with updated forecasts for the open years of its two managed syndicates. These are as follows

2018 year of account

Syndicate

Capacity

£000s

Revised forecast range

Previous forecast range

Change at midpoint

2791

399,543

-2.5% to +2.5%

-5% to 0%

2.5 points better

6103

47,696

-2.5% to +2.5%

-7.5% to +2.5%

2.5 points better

 

2019 year of account

Syndicate

Capacity

£000s

Revised forecast range

Previous forecast range

Change at midpoint

2791

399,607

-4% to +6%

-5% to +5%

1 point better

6103

47,548

+16.5% to +33.5%

+12.5% to +32.5%

2.5 points better

 

Revised forecasts are based on data as at 30 June 2020, with the previous forecast set using 31 March 2020 data. Forecast results are expressed as a percentage of allocated capacity and are after all standard personal expenses, but before members’ agents’ fees and charges.

MAP adds that its forecasts do not contemplate material coverage for Covid-19 in commercial property contracts.