Amlin suffers heavy half year loss

Charles Phillips Amlin

Amlin has announced a loss of £192.3m for the first six months of 2011 (£107.6m profit: 2010) as a result of "unprecedented" catastrophe claims.

The insurer was hit by £314.3m worth of catastrophe claims, which added 34% to the claims ratio, and blamed this for the deterioration in profitability.

Amlin revealed a combined ratio of 121% (H1 2010: 88%) with gross written premium at the provider up 1.9% to £1.51bn (H1 2010: £1.49bn).

Charles Philipps, chief executive of Amlin, commented: "Exceptional catastrophe losses in the first half of 2011 have taken a heavy toll on the reinsurance industry, and Amlin has been no exception.

"While our

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.

You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Insurance Age? View our subscription options

Register

Sign up and gain access to five complimentary news articles every month.

Already have an account? Sign in here

This address will be used to create your account

ABI records 3% home premiums rise in Q1

Average home insurance premiums for buildings and contents cover rose by 3% to £375 in the first quarter of this year, pushing the year-on-year rise up to 19%, according to the Association of British Insurers.

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: