Kiln has today provided an update on current trading...
Kiln has today provided an update on current trading conditions in advance of its Annual General Meeting.
It said: “To date 2007 is developing satisfactorily, with no significant catastrophe losses. Good progress has been made on Kiln’s international initiatives and the rating environment remains attractive, albeit slightly below our original expectations.
“The Group has written £129 million of gross premiums for the period ended 31 March 2007, showing an increase of 9.3% compared with the same period in 2006; the increase is in part attributable to the flow of business the Group is beginning to see from its operations in Hong Kong and Belgium.”
It added: “Underwriting conditions for 2007 to the end of April remain attractive, with Kiln seeing prices of around 99% of those at the same time last year on renewal business. Current rates on average across the Kiln portfolio are comfortably ahead of those of 2002, acknowledged as a year of good underwriting rates.”