Kiln Ltd Trading Statement and Updated Syndicate Forecasts - 22.11.07

Kiln Ltd today provided an update on current trading conditions and Kiln's wholly owned managing agency, R J Kiln & Co Limited ("R J Kiln"), has released updated forecasts for the 2005 and 2006 years of account for its four syndicates at Lloyd's and confirmed that it does not hold any investment in equities and has no direct holdings of sub-prime investments.

Kiln Group chief executive officer Edward Creasy commented:

"2007 is shaping up to be another good year for Kiln, and going into 2008 rates remain at acceptable levels across our specialist portfolio. Nevertheless, we intend to remain resolutely disciplined, both in terms of our underwriting stance and our capital management activities, in order to continue to generate attractive returns for our shareholders."

The full press release is available here. 

R J Kiln updated syndicate forecasts
The Kiln managing agency, R J Kiln, submitted the following revised mid point syndicate forecasts to Lloyd's today:

2005 Account
Syndicate 510          Unchanged at (3.2%)
Syndicate 557 1.3% Improvement to (13.6%)
Syndicate 807 0.6% Improvement to (4.7%)
Syndicate 308 5.6% Improvement to 16.6%

2006 Account
Syndicate 510          Unchanged at 15.4%
Syndicate 557 0.8% Improvement to 21.3%
Syndicate 807 1.4% Deterioration to 12.7%
Syndicate 308 0.6% Improvement to 6.3%