Amlin chairman set to retire as results show near £200m loss

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Amlin has reported pre-tax losses of £193.8m for 2011, compared to a profit of £259.2m for 2010.

The insurer’s UK division reported a loss of £7.9m attributable to underwriting for last year, while Amlin London reported a loss of £13.9m attributable to underwriting.

The group’s combined operating ratio (COR) deteriorated markedly from 89% in 2010 to 108% for 2011.

Amlin UK and Amlin London reported a COR of 103% and 102% respectively.

Gross written premiums for the group increased from £2,172.5m in 2010 to £2,304.1m last year, but the company also reported an 8.6% negative return on equity

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Applied updates on commercial push

Applied Systems has confirmed Arch Insurance is about to enter the pilot phase of onboarding and will be live on the Applied Epic broker management system in April, with Iprism and Ark to follow and more promised in 2024.

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