Amlin Plc

The group’s reinsurance cover reduced Amlin’s hurricane gross losses of $860.9mn to a net loss of only $236.7mn. Indeed, Amlin only retained 27% of the KRW related business it wrote. This compares to a catastrophe retention rate of 53% in 2004

n contrast to the vast majority of its counterparts in the US and Europe which either suffered net losses in 2005 or posted profits that were much reduced compared with the previous year, Amlin, the Lloyd’s and Bermuda based insurance and reinsurance group delivered a set of financial results in 2005 that was a clear improvement over the results it produced in 2004. So, despite seeing a 225.0% increase in its gross claims costs from US$265.0mn in 2004 to $860.9mn in 2005, Amlin managed to increase its net income by nearly 40% from £73.0mn to £101.8mn over the period.