Amlin swings back into profit with strong financial performance

Pre-tax profit rose to 264.2m pounds at FTSE 250-listed Amlin in the year ended December 31st, one year after the specialist insurance and reinsurance underwriting group reported a loss before tax of 193.8m pounds.

Pre-tax profit rose to 264.2m pounds at FTSE 250-listed Amlin in the year ended December 31st, one year after the specialist insurance and reinsurance underwriting group reported a loss before tax of 193.8m pounds.

In its preliminary results for the year, the group reported that it had £141.6m of claims attributable to Hurricane Sandy. This compared to £500.8m total net catastrophe claims in 2011.

The group also reported a return on equity of 17.4%, above the group's estimated cost of equity of 8.5%, and a combined ratio of 89%, with positive trends in all divisions.

An investment return of £165.3m was recorded, equivalent to 4.1% on average invested assets. This compared to £40.5m in 2011, which was equivalent to 0.9% on average invested assets.

The dividend declared increased by 4.3% to 24p per share. This compared to 23p per share in 2011.

Charles Philipps, the Chief Executive Officer of Amlin, said: "In 2012, Amlin returned to robust profitability and generated a strong return on equity. Recent growth is building earnings momentum and with profits from our non-catastrophe businesses improving, we are well positioned to continue to expand into more favourable market conditions."

MF

Recommended

Get healthy returns from these three healthcare stocks
Share tips

Get healthy returns from these three healthcare stocks

Professional investor Paul Major of the BB Healthcare Trust highlights three of his favourite healthcare stocks.
25 Oct 2021
Share tips of the week – 22 October
Share tips

Share tips of the week – 22 October

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
22 Oct 2021
Three dividend stocks from the dynamic Asia/Pacific region
Share tips

Three dividend stocks from the dynamic Asia/Pacific region

Professional investor Sat Duhra of the Henderson Far East Income investment trust highlights three of his favourite stocks.
18 Oct 2021
Share tips of the week – 15 October
Share tips

Share tips of the week – 15 October

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
15 Oct 2021

Most Popular

Properties for sale for around £1m
Houses for sale

Properties for sale for around £1m

From a stone-built farmhouse in the Snowdonia National Park, to a Victorian terraced house close to London’s Regent’s Canal, eight of the best propert…
15 Oct 2021
How to invest as we move to a hydrogen economy
Energy

How to invest as we move to a hydrogen economy

The government has started to roll out its plans for switching us over from fossil fuels to hydrogen and renewable energy. Should investors buy in? St…
8 Oct 2021
Emerging markets: the Brics never lived up to their promise – but is now the time to buy?
Emerging markets

Emerging markets: the Brics never lived up to their promise – but is now the time to buy?

Twenty years ago hopes were high for Brazil, Russia, India and China – the “Brics” emerging-market economies. But only China has beaten expectations. …
18 Oct 2021