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Nov 08, 2019

Tokio Marine Kiln - latest Lloyd's syndicate results and forecasts

Image for Tokio Marine Kiln - latest Lloyd's syndicate results and forecasts

Tokio Marine Kiln has announced the updated forecasts for the 2017 and 2018 years of account for its managed syndicates 510, 557 & 308 as follows:-

Overview:

  • Improvements to Syndicates 510 and 557 for the 2017 Year of Account driven by back year releases
  • 2018 Year of Account forecast losses reflect the impact of the California Wildfires and Hurricanes Michael and Florence
  • Focused on delivering the resubmitted 2019 Syndicate Business Forecast to capitalise on improving market conditions

2017 Year of Account

Syndicate

Latest forecast as at

30 September 2019

Previous forecast*

510

(6.6%) to (1.6%)

(11%) to (6%)

557

(27.1%) to (22.1%)

(27.4) to (22.4%)

308**(52.6%) to (47.6%)(53.7%) to (48.7%)

2018 Year of Account

Syndicate

Latest forecast as at

30 September 2019

Previous forecast*

510

(5%) to 0%

(5%) to 0%

557

(4.5%) to 0.5%

(4.9) to (0.1%)

Charles Franks, Chief Executive Officer of Tokio Marine Kiln, said: “We enter the renewal season against a backdrop of improving market conditions with a clear focus on delivering our resubmitted business plan. With a new strategy and an outstanding leadership team, TMK is in a strong position to tackle the challenges and opportunities ahead.”

*The previous forecasts, which were announced in August 2019, have been rebased to the same exchange rates (US$1.23 and C$1.63). The forecasts set out below take into account all managing agency and Lloyd’s charges.

**Syndicate 308 continues into run-off and TMK is servicing the existing business professionally, ensuring that there is no detriment to policyholders.

To view the full press release please click here