Tokio Marine Kiln adjusts forecasts on three syndicates

Tokio Marine Kiln Syndicates has adjusted its forecasts on the 2014 and 2015 years of account for its three non-aligned syndicates.

It said all syndicates are forecast to deliver profits for the 2014 year of account.

The company said Syndicates 510 and 557 have shown improvement as a result of favourable claims development in both open and closed years following a benign quarter despite exposure to the Canadian wildfires.

The forecast range for life syndicate 308 has fallen marginally following some adverse movements on premium income and claims experience.

Charles Franks, chief executive officer of TMKS, said: “Our commitment to a consistent underwriting approach shows through in these forecasts, as with earlier ones. There have been a number of catastrophe events in the second quarter, the most significant for us being the Canadian wildfires. The slight adjustment to our forecasts reflects these losses.”