Tokio Marine Kiln updates forecasts for syndicates 510 and 557

Tokio Marine Kiln has published revised forecasts for the 2018 and 2019 years of account for its two non-aligned syndicates, 510 and 557.

For 2019, Syndicate 510 was given a forecast of -14.5% to -4.5% at August 2020. This compares to the forecast range of -11.4% to -1.4% at May 2020.

For the same year of account, Syndicate 557 received a forecast of -4.9% to 0.1% at August 2020, compared to the forecast range of 10% to 15% at May 2020.

Tokio Marine Kiln said the revised forecasts for 2019 were due to deteriorations on COVID-19 estimates.

For 2018, Syndicate 510 now has a forecast range at August 2020 of -6.4% to 1.1%. This compares to the forecasts range of -6.8% to 0.7% at May 2020.

For the same year, Syndicate 557 now has a forecast range at August 2020 of -2.4% to 2.6%. This compares to the -2.9% to 2.1% range forecast at May 2020.

Tokio Marine Kiln said the improvements for 2018 were driven by favourable movements on the closed years.

CEO Brad Irick said: “Our forecasts reflect the impact of COVID-19. As market rates harden in key areas, we are continuing to seek opportunities that are aligned with our risk appetite, underpinned by strict underwriting discipline.”

    Share Story:

Recent Stories