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- 2 weeks
- Syndicates 510 and 557 continue to forecast losses for the 2017 year of account
- Syndicates 510 and 557 are forecasting losses on the 2018 year of account due to the Californian wildfires and Hurricanes Michael and Florence
- Rating environment improvements presenting opportunities
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:
“After two years of losses, we are starting to see the market respond in some areas and we are well positioned to capitalise on the opportunities presented by these improvements.”
The previous forecasts, which were announced in February 2019, have been rebased to the same exchange rates (US$1.30 and C$1.74). 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 Q1 2019 %||Previous forecast range as at Q4 2018|
|510||1,131||-12.6 to -7.6||-14.5 to -9.5|
|557||35||-27.9 to -22.9||-29.1 to -24.1|
|308||31||-53.0 to -48.0||-54.3 to -49.3|
Syndicates 510, 557 and 308 are showing minor improvements to the 2017 year of account. This is due to a stable quarter and a lower ultimate estimate from the catastrophe losses which affected the year.
|2018 year of account forecasts|
|Syndicate||Capacity £m||Forecast range as at Q1 2019 %|
|510||1,137||-6.2 to -1.2|
|557||35||-9.3 to -4.3|
Due to the hurricane and extensive wildfire losses of 2018, Syndicates 510 and 557 are again forecasting losses for the 2018 year of account.