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Tokio Marine Kiln announces latest Lloyd’s syndicate results and forecasts

Highlights

  • Improvements to Syndicates 510 and 557 for the 2017 Year of Account driven by back year releases
  • 2018 Year of Account forecast losses reflect the impact of the California Wildfires and Hurricanes Michael and Florence
  • Focused on delivering the resubmitted 2019 Syndicate Business Forecast to capitalise on improving market conditions

Tokio Marine Kiln Syndicates Limited today released updated forecasts for the 2017 and 2018 years of account for its three non-aligned syndicates.  

Charles Franks, Chief Executive Officer of Tokio Marine Kiln, said: “We enter the renewal season against a backdrop of improving market conditions with a clear focus on delivering our resubmitted business plan. With a new strategy and an outstanding leadership team, TMK is in a strong position to tackle the challenges and opportunities ahead.”  

The previous forecasts, which were announced in August 2019, have been rebased to the same exchange rates (US$1.23 and C$1.63). The forecasts set out below take into account all managing agency and Lloyd’s charges.

2017 year of account results
 Syndicate Capacity £m  Forecast range as at November 2019 %  Previous forecast range as at August 2019 %
 510  1,131 -6.6 to -1.6 -11.0 to -6.0
 557  34 -27.1 to -22.1 -27.4 to -22.4


The impact of an active catastrophe environment in the second half of the 2017 financial year is reflected in the forecast losses for Syndicates 510 and 557. Improvements to the forecasts for Syndicates 510 and 557 are driven by back year releases on the closed years of account. 

 2018 year of account forecasts   
 Syndicate Capacity £m  Forecast range as at November 2019 %  Previous forecast range as at August 2019 %
 510  1,136 -5.0 to -0.0 -5.0 to -0.0
 557  35 -4.5 to 0.5 -4.9 to -0.1

 

The forecast ranges for Syndicates 510 and 557 reflect early catastrophe losses on the California Wildfires, Hurricane Michael and Hurricane Florence.

Syndicate 308

Syndicate 308 continues into run-off and TMK is servicing the existing business professionally, ensuring that there is no detriment to policyholders. 

Synidcate 308 forecasts    
Year of Account Capacity £m Forecast range as at November 2019 % Previous forecast range as at August 2019 %
 2017 31  -52.6 to -47.6  -53.7 to -48.7

 

 

 

 

ENDS

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