Kin Group Regulatory News (KIN)

6 Jul 2007 07:00

Kiln Ltd06 July 2007 R J Kiln & Co Limited ("Kiln") Kiln 2008 business plans R J Kiln & Co Limited, the managing agency of Kiln's four syndicates at Lloyd's,has submitted its business plans to Lloyd's for the 2008 year of account. In thelight of expected competition in certain classes of business next year, thecompany plans to reduce its overall capacity at Lloyd's by 14% for 2008. Syndicate 2007 capacity Proposed 2008 capacity % change 510 734,968,403 587,974,722 -20%807 120,451,110 120,451,110 0%557 120,054,204 120,054,204 0%308 14,633,133 18,328,916 25%Total 990,106,850 846,808,952 -14% Kiln Group chief executive officer Edward Creasy commented: "This reduction in capacity for 2008 is consistent with our long held strategyof underwriting for profit rather than volume. Our underwriters continue tomaintain discipline where they see rate reductions and there are still areas ofconsiderable opportunity in the market. We are applying our efforts to thosesections of our portfolio where we see good potential and long term benefit forour capital providers." 6 July 2007Enquiries: Kiln plc 020 7886 9000Edward Creasy Kate Rogers College Hill 020 7457 2020Roddy Watt 07766 998915Tony Friend 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 it underwriting and its 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 Exchange