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Syndicate Management
Investing at Lloyd's
tax-corporate-services
News
About Us
Syndicate Management
Investing at Lloyd's
tax-corporate-services
News
We have received year end returns from Tokio Marine Kiln Syndicates Limited. The results of closed years and updated forecasts for the open years are as follows:
Syndicate 510
Year of account |
Capacity |
Result / Updated Forecast |
Previous Forecast |
Change at |
2020 |
1,303,290 |
7.0% |
1.0% to 6.0% |
3.5 points better |
2021 |
1,499,445 |
-4.3% to 5.7% |
-2.1% to 7.9% |
2.2 points worse |
Syndicate 557
Year of account |
Capacity |
Result / Updated Forecast |
Previous Forecast |
Change at |
2020 |
40,037 |
1.4% |
-6.7% to -1.7% |
5.6 points better |
2021 |
41,263 |
-9.4% to -4.4% |
-8.4% to -3.4% |
0.9 points worse |
Both syndicates benefited from substantial releases from reserves. There was a surplus on reserves for 2019 and prior years of £116m (8.8% of capacity) on closure of the 2020 account for Syndicate 510 and one of £5.3m (13.2% of capacity) for Syndicate 557.
Syndicate 510 has achieved a combined ratio of 90.6% in 2022, although Syndicate 557, which ceased trading at the end of 2022 has recorded a combined ratio of 145.9%.
Syndicate results and forecasts are expressed as a percentage of allocated capacity and are after deduction of all standard personal expenses but before non-standard members’ agents’ fees.
A list of all results received to date is here.
Hiscox Group Limited reports year end results on Wednesday 8th March and we anticipate will provide the results and forecasts for Syndicate 33 and SPA 6104 shortly thereafter.