Kiln has said its 2004 account closed 'comfortably' at the high end of last estimates and that its flagship syndicate 510 rose 10.3% in 2004.

Syndicate 510 accounts for three-fourths of Kiln's managed capacity.

The company said its 2005 account has improved steadily as hurricane loss claims stabilised and remaining claims run off under its projections.

Kiln said its 2006 account reflects relatively lower hurricane-related claims and the absence of major catastrophes in the year.