Amlin swings back to profit and agrees $50m MGA deal
Amlin returned to the black after posting a pre-tax profit of £264.2m for 2012, a marked improvement on the £193.8m loss recorded for 2011.
The insurer also announced it had struck a $50m (£33m) deal to buy RaetsMarine, a managing general agent headquartered in Rotterdam.
The group posted an improved combined ratio of 89% for 2012 (FY 2011: 108%).
Gross written premium rose to £2.4bn last year, up on the £2.3bn recorded in 2011.
Furthermore, the insurer also saw its underwriting profit jump to £207.1m, following a £146m loss in 2011. Its return on equity leapt to 17.4% from a 8.6% negative return in 2011.
And Amlin confirmed that
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