Tokio Marine Kiln Syndicates Limited today released the final results for its non-aligned syndicates for the 2018 year of account and updated forecasts for the 2019 year of account.
Brad Irick, Chief Executive Officer of Tokio Marine Kiln, said:
“I am pleased that TMK has delivered a profit for the 2018 year of account in the face of what was a very challenging year for the specialist insurance industry. The 2019 year of account is significantly impacted by Covid-19 as previously reported, which unfortunately countered an otherwise profitable year. We remained focussed and committed to servicing our customers during these difficult times.
“As we now focus on the year ahead we are optimistic that we are well positioned, in a changing market environment, to capitalise on the opportunities in our targeted growth areas, which we believe will experience healthy and hardening pricing. As always we remain committed to servicing our customers during these rapidly changing times.”
The previous forecasts, which were announced in November 2020, have been rebased to the same exchange rates (US$1.37 and C$1.74). The forecasts set out below take into account all managing agency and Lloyd’s charges.
| 2018 Year of Account Results | |||
| Syndicate | Capacity £m | Result (% of Capacity) | Previous forecast range as at November 2020 % |
| 510 | 1,136 | 0.7 | -3.3 to 1.7 |
| 557 | 35 | 3.0 | -2.3 to 2.7 |
| 2019 Year of Account Forecasts | |||
| Syndicate | Capacity £m | Forecast range as at February 2021 % | Previous forecast range as at November 2020 % |
| 510 | 1,133 | -16.1 to -6.1 | -14.4 to -4.4 |
| 557 | 32 | -5.8 to -0.8 | -4.2 to 0.8 |
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