Amlin plc

The group did not buy any reinsurance for Amlin Bermuda in 2006 and significantly reduced the purchasing of retrocessional cover for the catastrophe reinsurance business written by its non-marine business division. Amlin does not believe that the cost of these programmes, mainly designed to protect against an accumulation of exposures, reflected the risk being transferred

Amlin, the Lloyd’s and Bermuda based insurance and reinsurance group, increased its gross premium income by 12.1% from £999.5mn in 2005 to £1.1bn in 2006. More notably, however, the group also managed to increase its net written premiums by 22.2% to just over £1.0bn over the same period.