Amlin profit warning concerns analysts
Amlin has released a profit warning, lowering the half-year result after tax by £53m.
This poor performance is a result of a deterioration on the New Zealand earthquake reserves (£27m), large losses in the ACI business (£28m) and strengthening of UK motor claims reserves (£6m).
Nick Pope, equity analyst at Jeffries International said that this impact was manageable and that all of these elements were one-off in nature with reasonable explanations.
“But sentiment has been damaged - Amlin has been the darling of the London Market since 2001, delivering the best underwriting track
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