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New syndicate with Kiln

New syndicate with Kiln
Japanese insurance giant Tokio Marine has launched a new syndicate with Kiln to handle its group reinsurance needs.

Japanese insurance giant Tokio Marine has launched a new syndicate with Kiln to handle its group reinsurance needs.

Japanese insurance giant Tokio Marine has launched a new syndicate with Kiln to handle its group reinsurance needs.

Tokio Marine has set up the syndicate with a capacity of £200m (294m), which will offer reinsurance cover across the group, including Kiln, from the New Year.

Kiln, which is one of the largest managing agents and was taken over by Tokio Marine earlier this year, will manage the new syndicate 1880, alongside its four other ventures 308, 510, 557 and 807.

Stephen Mathers, who recently retired after 17 years as active underwriter of Kiln Syndicate 807 (Mathers), will be the first active underwriter for the new syndicate.

Tokio Marine"s Eddie Doi, who has 18 years experience of a broad range of commercial lines at Tokio Marine in Japan and the US, will join Mr Mathers at syndicate 1880.

Kiln chief executive Charles Franks, pictured, said: ?Not only does the formation of Syndicate 1880 represent a significant milestone in Tokio Marine"s ambition to raise its profile in London and the Lloyd"s market, it also places Kiln and Kiln underwriting expertise at the heart of Tokio Marine"s strategy to grow its presence internationally.?

Tokio Marine has been in expansive mode in 2008, following its move into the Lloyd"s market with a $4.7bn purchase of Philadelphia Consolidated and access to the world"s largest casualty insurance market in the US.

The Japanese insurer secured a foothold at Lloyd"s in March with the £442m purchase of Kiln, one of the leading marine, cargo and political risk underwriters in London.

www.TurkishMaritime.com.tr

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