Aug 06, 2020
TM Kiln updated forecasts for syndicates 510 and 557
Tokio Marine Kiln ("TMK") has released updated 2018 and 2019 Account estimates as below.
The full announcement is available here .
2018 Year of Account
| Managing Agency | Syndicates | Latest forecast |
Previous forecast |
| TMK |
510 |
-6.4% to +1.1% |
-6.8% to +0.7% |
| TMK |
557 |
-2.4% to +2.6% |
-2.9% to +2.1% |
TMK says that the improvements in the forecast results on Syndicate 510 and 557 are driven by favourable movements on the closed years.
2019 Year of Account
| Managing Agency | Syndicates | Latest forecast |
Previous forecast |
| TMK |
510 | -14.5% to -4.5% |
-11.4% to -1.4% |
TMK |
557 |
-4.9% to +0.1% |
+10.0% to +15.0% |
TMK says the movement in the forecast result for both Syndicates 510 and 557 is driven by deteriorations on Covid-19 estimates.
Brad Irick, Chief Executive Officer of Tokio Marine Kiln, said: "The first half of 2020 has highlighted our strength and agility, as well as the critical role we play as insurers in underpinning economies and enabling our clients.
“Our forecasts reflect the impact of Covid-19. As market rates harden in key areas, we are continuing to seek opportunities that are aligned with our risk appetite, underpinned by strict underwriting discipline, in pursuit of our goal to be recognised as a top tier specialty insurer that is known for our talent, our
commitment to our clients and our values."
Click here for the full announcement.
The forecast for Syndicate 308 on the 2017 YOA (which remains open) has seen a small deterioration.