22nd Aug 2007 10:49
Kiln Ltd22 August 2007 R J Kiln & Co Limited Updated Syndicate Forecasts R J Kiln & Co Limited, the Lloyd's managing agency wholly owned by Kiln Ltd, istoday releasing the following syndicate forecast results as at 30 June 2007 forthe 2005 and 2006 years of account. 2005 Year of Account Forecasts 2005 Account Capacity Forecast Range Previous forecast as at March 2007 £ million % %Syndicate 510 545 (5.9) to (0.9) (8.9) to (3.9) Syndicate 557 48 (17.7) to (12.7) (18.2) to (13.2) Syndicate 807 99 (8.0) to (3.0) (10.3) to (5.3) Syndicate 308 9 8.5 to 13.5 9.3 to 14.3 2006 Year of Account Forecasts 2006 Account Capacity Forecast Range Previous forecast as at March 2007 £ million % %Syndicate 510 625 13.1 to 18.1 13.2 to 18.2 Syndicate 557 54 18.2 to 23.2 18.3 to 23.3 Syndicate 807 110 11.7 to 16.7 13.3 to 18.3 Syndicate 308 13 3.3 to 8.3 2.8 to 7.8 The forecasts set out above take into account all managing agency and Lloyd'scharges. The current forecasts are expressed at 30 June 2007 exchange rates. Theprevious forecasts, which were announced originally in May, have been rebased tothe same exchange rate (US$2.01 and C$2.13 respectively). Kiln group director of underwriting, Robert Chase, commented: "The 2006 year of account is developing in line with our expectations and we areseeing continuing improvements in the way the 2005 year is running off, thanksto the strong pricing levels in that year." Kiln Ltd will announce its interim results for the six months to 30 June 2007 on5 September 2007. There will be a meeting for analysts at 12 noon at 106Fenchurch Street. 22 August 2007 Enquiries: Kiln plc 020 7886 9000Robert Chase, group director of underwritingKate Rogers, head of communications College Hill 020 7457 2020Tony FriendRoddy Watt Notes to Editors Kiln is an international insurance and reinsurance underwriting group with aportfolio of specialist risks. Since 1962, it has built its business on thestrength of its underwriting and relationships. Kiln Ltd, the holding company of the Kiln Group, is based in Bermuda and islisted on the London Stock Exchange. Its UK operating company, R J Kiln & CoLimited, has four syndicates at Lloyd's and, in terms of capacity, is the fourthlargest agency trading in the Lloyd's insurance market. In addition to Bermudaand London, Kiln has offices in Hong Kong, Singapore, South Africa and Belgium. A recognised leader in each of the five main business areas in which itoperates: reinsurance, accident and health, aviation, marine and special risks,and property, Kiln syndicates enjoy a security rating of 'A+' (Strong) assignedto Lloyd's by Standard and Poor's. Further information is available at www.kilngroup.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Kin Group