R J Kiln & Co Limited released updated forecasts for 2012 and 2013 years of account for its three non-aligned syndicates

  • All syndicates are forecast to deliver profits for the 2012 and 2013 years of account
  • Kiln remains focused on product innovation to address changing risk portfolios
  • Experienced in managing the business through soft market conditions

London, 19-5-2014 — /EuropaWire/ — R J Kiln & Co Limited, part of the Tokio Marine Group, has released updated forecasts for the 2012 and 2013 years of account for its three non-aligned syndicates.

Charles Franks, Chief Executive Officer of R J Kiln & Co Limited, said: “We have had a good first quarter and I am pleased that our forecasts continue to show profits for the 2012 and 2013 years of account, despite the increasing competitive pressures and challenging pricing environment we are facing.  In these conditions, we see the importance and value of empowering our underwriters to focus on the bottom line, not the top. We are also continuing to work with our clients and customers to develop innovative, specialist products to address their changing risk portfolios and ensure that we remain relevant.”

The previous forecasts, which were announced in February 2014, have been rebased to the same exchange rates (US$1.67 and C$1.84). The forecasts set out below take into account all managing agency and Lloyd’s charges.

2012 year of account forecasts
Syndicate Capacity
£
2012 year of account forecast range
%
Previous forecast as at February 2014
510 1,062 2.9 to 7.9 2.5 to 7.5
557 56 2.0 to 7.0 1.8 to 6.8
308 23 1.5 to 6.5 1.6 to 6.6

The forecast for Syndicate 510 improved during the quarter, driven by improvements on net claims as the book earned through a relatively benign period. Syndicates 557 and 308 remain stable and are in line with the previous quarter.

 

2013 year of account forecasts
Syndicate Capacity
£
2013 year of account forecast range
%
Previous forecast as at February 2014
510 1,062 4.1 to 9.1 4.1 to 9.1
557 46 9.2 to 14.2 8.6 to 13.6
308 27 -1.9 to 3.1 0.5 to 5.5

The forecast range for Syndicate 510 remains stable and Syndicate 557 has shown an improvement following a relatively benign quarter. Syndicate 308 has maintained a forecast profit, despite showing some deterioration following loss experience during the period.

ENDS

    Contact
    Laura Guerin
    laura.guerin@kilngroup.com
    +44 (0)20 7767 2111

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