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Tokio Marine Kiln announces latest Lloyd's syndicate forecasts
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Tokio Marine Kiln announces latest Lloyd's syndicate forecasts

Thursday, November 4, 2021

Highlights

  • Improvement in forecast result on both Syndicates 510 and 557 for the 2019 and 2020 years of account.
  • Focused on continued profitable growth in 2022
  • The forecast for Syndicate 308 on the 2017 YOA (which remains open) is unchanged.

 

Tokio Marine Kiln Syndicates Limited today released updated forecasts for the 2019 and 2020 years of account for its two non-aligned syndicates.  

Brad Irick, Chief Executive Officer of Tokio Marine Kiln, said:

“The improvements to the forecasts for both Syndicates 510 and 557 are as expected, and we expect that trend to continue with Syndicate 510 closing to a profit despite the significant catastrophe activity in 2020.

“Our 2021 underwriting year continues to progress well with strong market conditions providing an encouraging backdrop for continued profitable growth, building on the strong underlying performance we have delivered over the past two years.

“We have exciting ambitions for 2022 and beyond as we focus on continuously improving the profitability of existing lines and further diversifying the portfolio over time by entering new lines of business.  We have a focused strategy to leverage our existing strengths in data analytics to guide the development of that portfolio while modernising our operations. Our strategy will be bolstered by the arrival of David Slevin in Spring 2022 to lead our Aviation team, and we look forward to continuing to support our clients as their challenges evolve.”

The previous forecasts, which were announced in August 2021, have been rebased to the same exchange rates (US$1.35 and C$1.71). The forecasts set out below take into account all managing agency and Lloyd’s charges.

 

2019 Year of Account Results

Syndicate

Capacity £m

Result (% of Capacity)

Previous forecast range as at August 2021 %

510

1,133

-7.4 to -2.4

-12.3 to -2.3

557

32

-0.5 to 4.5

-3.5 to 1.5

 

  • Improvements in the forecast result for Syndicates 510 and 557 are driven by favourable movements on the closed years.

2020 Year of Account Forecasts

Syndicate

Capacity £m

Result (% of Capacity)

Previous forecast range as at August 2021 %

510

1,303

-2.5 to 2.5

-2.5 to 2.5
557 40 -13.2 to -8.2 -15.2 to -10.2

 

  • The forecast results for Syndicates 510 and 557 reflect the impact of catastrophe losses.

ENDS

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