Kiln, the London-listed Lloyd's insurer, has forecast improved results for its syndicates in 2002 thanks mainly to fewer losses during that trading year. The company expects the forecast to improve further if the current level of loss development continues.
In a trading statement released this morning, Kiln said it was continuing to experience good trading conditions in 2003 and was achieving further rate increases in some specialist areas. Overall, rates continued to be higher than in 2002, the company said.
Kiln's capacity in the current year is £820m, £156m higher than in 2002. The company's net economic interest in this capacity is £237m.
