Amlin UK records 2013 underwriting profit fall
Lloyd's insurer sees UK COR worsen to 99%.
Amlin UK saw its 2013 underwriting profit drop to £1.5m, from £14.1m posted the previous year.
The Lloyd's insurer saw gross written premium fall to £336.m [2012: £372.6m], which it attributed to a £42.2m reduction to income estimates on binding authorities.
Its combined operating ratio (COR) deteriorated to 99% [2012: 95%], while net earned premium amounted to £274.6m [2012: £266m].
It confirmed that average rate increases came in at 4.9% [2012: 5%] with an improved retention ratio of 85% [2012
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