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- All syndicates are forecast to deliver profits for the 2014 year of account
- Syndicates 510 and 557 are forecast to deliver profits for the 2013 year of account
- Empowered underwriting and excellent customer service remain critical differentiators
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: "While market conditions remain challenging, our approach of empowering expert underwriters and putting customers at the heart of our business continues to serve us well.
"Innovation has never been more important. This is true both in terms of product development as well as ensuring our continued operational effectiveness and efficiency. Our recent launch of One Unmanned, the first packaged insurance product for Unmanned Aerial Systems in the Lloyd’s market, demonstrates our commitment to developing cutting edge solutions for our clients that tackle their changing needs. The commercial UAS market continues to mature, as operators adopt new uses for the devices such as filming, loss adjusting, surveying oil platforms and delivering goods, and we're proud to be at the forefront of that development."
The previous forecasts, which were announced in February 2015, have been rebased to the same exchange rates (US$1.48 and C$1.88). The forecasts set out below take into account all managing agency and Lloyd’s charges.
|2013 year of account forecasts|
|2013 year of account forecast range %||Previous forecast as at February 2015 %|
|510||1,064||6.5 to 11.5||6.3 to 11.3|
|557||46||10.4 to 15.4||11.0 to 16.0|
|308||27||-3.5 to 1.5||-3.7 to 1.3|
Syndicates forecasts remain stable and in line with the prior quarter
|2014 year of account forecasts|
|2014 year of account forecast range %||Previous forecast as at February 2015 %|
|510||1,064||3.4 to 8.4||3.5 to 8.5|
|557||39||16.8 to 21.8||14.1 to 19.1|
|308||32||0.7 to 5.7||0.1 to 5.1|
The forecast range for Syndicate 510 remains stable. Syndicates 557 and 308 have shown improvements following a benign quarter.