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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, August 5, 2021

Highlights

  • Improvements in forecast results on both Syndicates 510 and 557 for the 2019 and 2020 YOA
  • 2021 underwriting year off to an excellent start thanks to disciplined underwriting and a positive rating environment
  • Covid-19 estimates remain stable.
  • 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:

“We expect to see continued improvement in the forecast range on Syndicate 510 for the 2020 Year of Account, which should mean the year closes out at a profit despite the impacts of Covid-19 and the high-frequency of catastrophes in 2020. While 2019 will be a loss year due to Covid-19, we are pleased to see our ex-Covid results offsetting some of these losses.

“Our 2021 underwriting year is off to an excellent start and is a continuation of the market-leading underlying performance we have seen since 2020.  With a positive rate environment and a disciplined underwriting approach, we expect this trend to continue into 2022 and beyond.”

The previous forecasts, which were announced in May 2021, have been rebased to the same exchange rates (US$1.38 and C$1.71). The forecasts set out below take into account all managing agency and Lloyd’s charges.

2019 Year of Account Forecasts

 Syndicate

Capacity £m 

Forecast range as at August 2021 %

Previous forecast range as at May 2021 %

 510 1,133 -12.3 to -2.3 -14.7 to -4.7
 557  32 -3.5 to 1.5 -5.2 to -0.2

 

  • 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 

Forecast range as at August 2021 %

Previous forecast range as at May 2021 %

 510 1,303 -2.5 to 2.5 -2.8 to 2.2
557 40 -15.2 to -10.2 -17.7 to -12.7
  • The forecast results for Syndicates 510 and 557 reflect the impact of catastrophe losses.

 

Media contact

Damian Beeley

Haggie Partners

+44 (0)20 7562 4444

 

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