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• Syndicates 510 and 557 have shown improvements on the 2015 year of account following a benign quarter
• All syndicates are forecast to deliver profits for the 2016 year of account
• Focused on an innovation strategy to create opportunities
Tokio Marine Kiln Syndicates Limited today released updated forecasts for the 2015 and 2016 years of account for its three non-aligned syndicates.
Charles Franks, Chief Executive Officer of Tokio Marine Kiln, said: "Despite the absence of the market cycle and enormous pressure in traditional classes, this is an age of opportunity for insurers that are proactive in meeting the needs of clients whose risk profiles are changing. We are investing in innovation through new products and value added services, as well as being strong supporters of market efficiency initiatives to ensure we remain relevant and that we can deliver continued profitable growth."
The previous forecasts, which were announced in May 2017, have been rebased to the same exchange rates (US$1.30 and C$1.69). The forecasts set out below take into account all managing agency and Lloyd’s charges.
|2015 year of account forecasts
|2015 year of account forecast range %||Previous forecast range as at May 2017 %|
|510||1,063||7.7 to 12.7||6.4 to 11.4|
|557||35||24.0 to 29.0||23.2 to 28.2|
|308||32||-9.8 to -4.8||-8.5 to -3.5|
Syndicates 510 and 557 have shown improvement as a result of favourable claims development on both the open and closed years following a benign quarter.
The forecast range for Life Syndicate 308 has decreased due to adverse claims experience.
|2016 year of account forecasts
|2016 year of account forecast range %||Previous forecast range as at May 2017 %|
|510||1,062||-1.2 to 3.8||-0.8 to 4.2|
|557||35||9.7 to 14.7||8.3 to 13.3|
|308||32||-0.9 to 4.1||-0.3 to 4.7|
Syndicate 557 remains on course to make a good profit with an improvement in the quarter driven by favourable claims experience. The forecast ranges for Syndicate 510 and Syndicate 308 remain stable.