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News
R J Kiln updated syndicate forecasts
23rd Nov 2009
R J Kiln & Co Limited, the specialist insurance and reinsurance group, has today issued an update on trading conditions, and has released updated forecasts for the 2007 and 2008 years of account for four of its syndicates at Lloyd’s.
The forecasts set out below take into account all managing agency and Lloyd’s charges. The forecasts are expressed at 30 September 2009 exchange rates. Previous forecasts, which were announced in August, have been rebased to the same exchange rates (US$1.60 and C$1.72 respectively).
 | | Capacity | 2007 year of account forecast range | Previous forecast as at June 2009 | |
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| £m | % | % | |
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 | | Syndicate 510 | 734 | 10.7 to 15.7 | 8.1 to 13.1 | | | | Syndicate 557 | 120 | 13.8 to 18.8 | 12.7 to 17.7 | | | | Syndicate 807 | 120 | 7.7 to 12.7 | 6.2 to 11.2 | | | | Syndicate 308 | 15 | 4.9 to 9.9 | 4.3 to 9.3 | | |
| | Capacity | 2008 year of account forecast range | Previous forecast as at June 2009 | |
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| £m | % | % | |
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| | Syndicate 510 | 587 | 4.9 to 9.9 | 3.4 to 8.4 | | | | Syndicate 557 | 119 | 8.1 to 13.1 | 8.0 to 13.0 | | | | Syndicate 807 | 120 | 3.0 to 8.0 | 3.1 to 8.1 | | | | Syndicate 308 | 15 | 9.8 to 14.8 | 10.3 to 15.3 | | |
The capacity for R J Kiln’s syndicates for the 2010 year of account is:
| | 2009 capacity | Approved 2010 capacity | % change | |
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| £ | £ | | |
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| | Syndicate 510 | 629,991,439 | 920,000,000 | +46.0 | | | | Syndicate 1880 | 325,000,000 | 360,000,000 | +10.8 | | | | Syndicate 807 | 120,451,037 | 140,000,000 | +16.2 | | | | Syndicate 557 | 119,577,000 | 119,577,000 | 0.0 | | | | Syndicate 308 | 14,663,133 | 20,000,000 | +36.4 | | | | Total | 1,209,682,609 | 1,559,577,000 | +28.9 | | |
R J Kiln chief executive officer, Charles Franks, commented:
“We are benefiting from a year that has, to date, been notable for its benign claims environment, due in part to a very quiet US hurricane season. This has had a positive impact on the latest set of forecasts for the 2007 and 2008 years of account and we are also seeing this feed through into the early development of the 2009 year of account. There has been strong underlying growth in most of our business lines in 2009 as a result of the continued expansion of our range of products and the increasing importance of our regional offices.”
On underwriting conditions Richard Lewis, director of underwriting commented:
“We have experienced good results over the last quarter, due to the still robust rating environment and better than average claims activity. While we expect some softening in certain sectors of the market in 2010 we still believe there are excellent opportunities for selective underwriters. We will continue to focus specifically on those lines of business where we have a particularly strong understanding of the exposure and dynamics of the market.”
Enquiries
|  | | Charles Franks ACII
Group Chief Executive Officer
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|  | | Richard Lewis ACII
Group Director of Underwriting
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|  | | Roger Bickmore FCII
Group Business Development Director
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E-mail Charles
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