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Highlights
- All syndicates are forecast to deliver profits for the 2014 year of account
- Syndicates 510 and 557 have shown improvements on the 2015 year of account following a benign quarter
Tokio Marine Kiln Syndicates Limited (TMKS) has released updated forecasts for the 2014 and 2015 years of account for its three non-aligned syndicates.
Charles Franks, Chief Executive Officer of TMKS, said: “These latest forecasts show that our continued emphasis on disciplined underwriting is proving profitable for our syndicates. Our business strategy, with its emphasis on working with our customers, continues to drive successful underwriting performance.”
The previous forecasts, which were announced in February 2016, have been rebased to the same exchange rates (US$1.44 and C$1.86). The forecasts set out below take into account all managing agency and Lloyd’s charges.
| 2014 year of account forecasts | |||
| Syndicate | Capacity | 2014 year of account forecast range % | Previous forecast range as at February 2016 % |
| £m | |||
| 510 | 1,064 | 6.8 to 11.8 | 5.9 to 10.9 |
| 557 | 39 | 18.1 to 23.1 | 17.3 to 22.3 |
| 308 | 32 | 0.3 to 5.3 | -0.3 to 4.7 |
All syndicates have shown improvements as a result of favourable claims development on both open and closed years following a benign quarter.
| 2015 year of account forecasts | |||
| Syndicate | Capacity | 2015 year of account forecast range % | Previous forecast range as at February 2016 % |
| £m | |||
| 510 | 1,063 | 4.4 to 9.4 | 3.9 to 8.9 |
| 557 | 35 | 22.1 to 27.1 | 19.1 to 24.1 |
| 308 | 32 | -6.4 to -1.4 | -6.3 to -1.3 |
Syndicates 510 and 557 have shown improvements following a benign quarter. The forecast range for Life Syndicate 308 remains stable.
ENDS