Amlin announces preliminary results
Amlin has released its preliminary results for 2008.
The early figures reveal a pre-tax profit of £121m, down sharply from the £445m recorded for 2007.
Return on equity stands at 7.8%, much lower than the previous figure of 37.8%.
The insurer increased its net assets by over 15% to a little over £1.2bn, a rise of £160m from the previous year.
Chief executive Charles Philipps has stated that the firm’s outlook for this year and the next is improving for underwriting and that Amlin has a robust balance sheet.
Amlin also has net unearned premium reserves of £518m, up from £474m in 2007, and retains good prospects for dividend growth.
Category: Financials, Insurance News
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