Record profits at Amlin
Amlin has announced £509.1m in profits for the year ended 31 December 2009 compared to £121.6m and an improvement in its combined ratio to 72% (2008: 76%).
However, the insurer also released £174.1m of reserves up from £114.7m in the previous year.
Gross written premium were up at £1,543.9m (2008: £1,034.0m) and gross assets also increased 35.8% to £5,673.0 million (2008: £4,176.3 million). The company also reported an improved return on equity of 37.0% (2008: 7.8%).
Amlin cited a record investment contribution of £207.5m (2008: £18.0m) and the performance of acquistions as being key reasons for the increase in profits.
Charles Philipps, chief
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