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Tokio Marine Kiln announces latest Lloyd’s syndicate forecasts

Highlights
• All syndicates remain on course to deliver profits for the 2014 year of account.
• Syndicates 510 and 557 are forecast to deliver very good profits for the 2013 year of account.
• Addressing the changing needs to customers and clients through innovation, distribution and first class service.

Tokio Marine Kiln Syndicates Limited has released updated forecasts for the 2013 and 2014 years of account for its three non-aligned syndicates.

Charles Franks, Group Chief Executive Officer of Tokio Marine Kiln Syndicates Limited, said: “Today’s strong forecasts demonstrate that putting customers at the heart of what we do remains an effective long term strategy. In addition to delivering cutting edge insurance products we are continuing to address changing client demand by investing in new talent and distribution, including the recent appointment of a Fine Art and Specie Underwriter to our Marine team and a new consortium for corporate aviation business. As the market evolves, we will continue to broaden our portfolio and deliver a first class service to customers and clients through our expert underwriting and claims teams.”

The previous forecasts, which were announced in May 2015, have been rebased to the same exchange rates (US$1.57 and C$1.96). The forecasts set out below take into account all managing agency and Lloyd’s charges.

2013 year of account forecasts

Syndicate Capacity £m 2013 year of account forecast range % Previous forecast range as at May 2015 %

510

1,064

6.9 to 11.9

5.6 to 10.6

557

46

11.1 to 16.1

9.2 to 14.2

308

27

-3.7 to 1.3

-3.4 to 1.6

 

The forecasts for Syndicates 510 and 557 have shown improvements following reserve releases due to favourable claims development on closed years. The forecast range for Life Syndicate 308 remains stable.

2014 year of account forecasts

Syndicate Capacity £m 2014 year of account forecast range % Previous forecast range as at May 2015 %

510

1,064

3.8 to 8.8

2.8 to 7.8

557

39

16.8 to 21.8

15.6 to 20.6

308

32

0.4 to 5.4

0.6 to 5.6

Syndicates 510 and 557 have shown improvements following a benign quarter. The forecast range for Syndicate 308 remains stable.

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Laura Guerin

+44 (0)20 7767 2111

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