Kiln syndicate report casts positive outlook.

(From Insurance Day)

Byline: Jon Guy

LLOYD'S insurer RJ Kiln & Co has published the results for its managed syndicates for the 2001 year of account and forecasts for the 2002 and 2003 years of account as its chief executive said rates in its key sectors of business have been holding steady for 2004.

Kiln said its results for the four syndicates it operates in the Lloyd's market were within its forecast ranges for 2001, with only syndicate 557 returning a negative result. The company described the 2001 performance as "particularly strong despite the World Trade Center (WTC) disaster". Its non-marine syndicate 807 delivered an impressive profit of 5.8% on a capacity of GBP45m ($84m) on capacity and Kiln's flagship syndicate 510 achieved a profit of 2.5% of its capacity of GBP226m. In a statement it added: "The company has maintained its strong forecasts for 2002 and expects 2003 to continue in line with 2002, reflecting the attractive trading environment."

Its forecasts for the 2002 year of account remain largely unchanged and Kiln said the 2003 estimates were pure-year only and saw just its syndicate 308 forecast to make anything other than a healthy profit. Its projected earnings range between a profit of 3.5% and a loss of 1.5% on its capacity of GBP4m. The managing agency's other syndicates were forecast to make profits comparable to those in 2002.

"These forecasts highlight Kiln's exceptional performance in a robust rating ...