Kiln issued a warning that it will be exposed to
losses caused by the hurricanes that blasted the US, Caribbean and Japan over recent months.
Kiln estimated that full-year pre-tax profits for the 2004 financial year would be hit by £10m to £15m.
In a statement, Kiln said: "Notwithstanding the effect on Kiln plc's 2004 result, it is our view that these losses will reinforce the need for continued global underwriting discipline in Kiln's specialist areas of business, and the prospect of future sustained profitability is therefore improved as a result of these losses."
Its shares fell 5.5p to 73p on the announcement.
