Tokio Marine Kiln Syndicate Limited has released updated forecasts for the open years of managed syndicates as follows

2018 year of account

 

Syndicate

Capacity
£000s

Revised forecast Range

Previous Forecast
Range

Change at
Midpoint

510

1,135,651

-3.2% to 1.8%

-6.4% to 1.1%

1.9 points better

557

34,630

-2.2% to 2.8%

-2.4% to 2.6%

0.2 points better

Improvement in forecast result on both Syndicate 510 and 557 is driven by favourable movements on the closed years.

2019 year of account

 

Syndicate

Capacity
£000s

Revised forecast Range

Previous Forecast
Range

Change at
Midpoint

510

1,133,052

-14.4% to -4.4%

-14.5% to -4.5%

0.1 points better

557

32,279

-4.3% to 0.7%

-4.9% to 0.1%

0.6 points better

The forecast results for syndicate 510 and 557 remain broadly in line with prior quarter.

Brad Irick, Chief Executive Officer of Tokio Marine Kiln, said “This year has reinforced the critical role we play as insurers in underpinning economies and enabling our clients. I am incredibly proud of the commitment that all our employees, including our market leading claims team and expert underwriters, have shown throughout this period.

“As we approach the renewals season and with rates hardening across multiple business lines we are well positioned with the financial strength and expertise to leverage opportunities that are aligned with our risk appetite through 2021 and beyond. Our focus remains on delivering as a recognised top tier specialty insurer that is known for our people, our commitment to our clients and our values.”

TMK adds that the forecast results reflect the latest Covid-19 estimates for the 2018 and 2019 years of account. The forecast for the open 2017 year of life syndicate 308 is unchanged.

The full TMK press release can be found here.

Syndicate forecasts are expressed as a percentage of allocated capacity and are after the deduction of all standard personal expenses but before members’ agents’ fees and charges.