24 Nov 2006 07:00
Kiln PLC24 November 2006 Kiln plc R J Kiln & Co Limited - Updated Syndicate Forecasts R J Kiln & Co Limited issued the following syndicate forecast results as at 30September 2006 for the 2004 and 2005 years of account to Lloyd's. 2004 year of account forecasts Previous forecast2004 account Capacity Forecast range as at June 2006 £million % %Syndicate 510 507 6.0 to 11.0 4.6 to 9.6Syndicate 557 55 5.6 to 10.6 2.8 to 7.8Syndicate 807 113 (0.3) to 4.7 (0.4) to 4.6Syndicate 308 5 (6.1) to (1.1) (6.9) to (1.9) 2005 year of account forecasts Previous forecast2005 account Capacity Forecast range as at June 2006 £million % %Syndicate 510 545 (11.6) to (6.6) (11.3) to (6.3)Syndicate 557 48 (25.1) to (20.1) (25.6) to (20.6)Syndicate 807 100 (11.3) to (6.3) (12.2) to (7.2)Syndicate 308 10 6.0 to 11.0 7.6 to 12.6 The forecasts set out above take into account all managing agency and Lloyd'scharges. The current forecasts are expressed at 30 September 2006 exchangerates. The previous forecasts, which were announced originally in August, havebeen rebased to the same exchange rate (US$1.87 and C$2.08 respectively). The 2004 year of account continues to run off satisfactorily, with improvedforecasts on the majority of the syndicates this quarter, while the 2005 year ofaccount forecasts for those syndicates affected by the hurricanes remain verystable. 24 November 2006 Enquiries Kiln plc 020 7886 9000Edward Creasy, Chief executive officer College Hill 020 7457 2020Tony FriendRoddy Watt Notes for editors Kiln Kiln is an international insurance and reinsurance underwriting group with aportfolio of specialist risks. Since 1962, Kiln has built its business on thestrength of its underwriting and its relationships. Kiln plc is listed on the London Stock Exchange. Its operating subsidiary, R JKiln & Co Limited, plans to have over £1 billion of capacity under managementfor the 2007 year of account, making it one of the largest agencies trading inthe Lloyd's of London insurance market. 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. This information is provided by RNS The company news service from the London Stock Exchange