Kin Group Regulatory News (KIN)

24 Aug 2005 12:20

Kiln PLC24 August 2005 RJ Kiln & Co Limited Updated Syndicate Forecasts R J Kiln & Co Limited issued the following syndicate forecast results as at 30thJune 2005 for the 2003 and 2004 years of account to Lloyd's. The 2003 year of account is showing improvements in the forecast profits forthree of the four syndicates, while the excellent forecast for CatastropheSyndicate 557 now stands at between 34% and 39% profit as a percentage ofcapacity. The 2004 year of account is broadly stable, with only moderatevariations in forecasts, except in the case of Life Syndicate 308, where threerecent claims have caused some deterioration. 2003 Year of Account Forecasts 2003 Account Capacity Forecast Range Previous forecast as at £ million (% of capacity) March 2005Syndicate 510 483 19.6 to 24.6 17.7 to 22.7Syndicate 557 55 34.0 to 39.0 35.2 to 40.2Syndicate 807 87 11.4 to 16.4 11.2 to 16.2Syndicate 308 4 10.3 to 13.3 9.1 to 12.1 2004 Year of Account Forecasts 2004 Account Capacity Forecast Range Previous forecast as at £ million (% of capacity) March 2005Syndicate 510 507 5.9 to 10.9 5.8 to 10.8Syndicate 557 55 5.6 to 10.6 5.5 to 10.5Syndicate 807 113 4.7 to 9.7 6.1 to 11.1Syndicate 308 5 (1.9) to 3.1 1.8 to 6.8 The forecasts set out above take into account all managing agency and Lloyd'scharges. The current forecasts are expressed at 30th June 2005 exchange rates.The previous forecasts, which were announced originally in May have been rebasedto the same exchange rate. Robert Chase, Kiln's director of underwriting said: "These forecasts are broadly in line with our expectations for the syndicates,and reflect the continuing strength of our underwriting and the relativelybenign claims environment, apart from the intense hurricane and typhoon activitylast year. We are only at the start of the hurricane season, but we believethat, in the absence of major catastrophes, 2005 will prove to be anotherexcellent year for Kiln." Kiln plc will announce its interim results for the six months to 30th June 2005on 13th September 2005. 24 August 2005 Enquiries: Kiln plc 020 7886 9000 Edward Creasy, Chief Executive Officer Peter Haynes, Chief Financial Officer Kate Rogers, Head of Communications College Hill 020 7457 2020 Tony Friend Roddy Watt This information is provided by RNS The company news service from the London Stock Exchange