Extra reserving hits Amlin?s bottom line

LONDON � Lloyd�s insurer, Amlin has reported a pre-tax loss for 2000 due to reduced investment returns and additional reserving on one of its syndicates. The company reported a pre-tax loss of �26.4m for 2000 compared to �18.3m profit in the previous year. The additional reserves were for poor performing US casualty business. Excluding syndicate 1141, however, the business reported an improved combined ratio of 103%. "The strengthening ofreserves in respect of syndicate 1141 has impacted the results more than initially expected. However, our remaining business performed ahead of expectations," said Roger Taylor, chairman of Amlin.