Tokio Marine Kiln Syndicates Ltd
Managing Agent Name: Tokio Marine Kiln Syndicates Limited
Subject: 2021 Year of account
Syndicate Affected: 557
In light of strong rating levels expected in the reinsurance market the Syndicate is pre-empting by 7.018% for 2021. Capacity will increase from £40.18m to £43.0m.
For 2021 557 will write a 28% Quota share of the combined reinsurance account across syndicates 510 and 1880.
In the past Syndicate 557 has written a fixed quota share of the reinsurance portfolio of syndicate 510 only. For 2021 Syndicate 510 is switching to a split stamp arrangement with the Tokio Marine corporate syndicate 1880. The business written by the two syndicates will be pooled and then split on a fixed 80/20 basis, with 510 taking 80% of every line written and 1880 the remaining 20%.
The net effect to 557 of the split stamp change is negligible with 557 taking its share of the reinsurance portfolio written as in the past.
2021 will be the first full year under Matthew Shaw as Chief Underwriting Officer. Mr Shaw joined TMK in May 2020 and the split syndicate initiative is an important change made under his recommendations and with full support from the Board of TMK and the 510 members agents.
Date issued: 17th October 2020
Agency contact name: John Yeulett
Agency contact no: + 44 (0) 7886 9000
For auction office use only: D2020004
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