Amlin returns to the black in H1

Amlin has reported its interim financial results for the six months ended 30 June 2012.

Biannual pre-tax profits for this period came to £184.5m, almost the mirror image of the £192.3m loss that the firm incurred during the corresponding period last year.

However, the first half of 2011 was particularly notable for the very high incidence of natural catastrophes which had a significant impact upon the firm’s results.

In the first six months of 2012 Amlin reported a return on equity of 11.9%, compared to an 8.8% loss in H1 2011.

Gross written premiums rose by 19.8% from £1,514.6m last year to £1,814.7m.

Chief Executive Charles Philipps described Amlin’s biannual results as a welcome return to profitability.

Philipps went on to say that the strong underwriting result the firm achieved underlined the business’ diversity and quality.

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Category: Financials, Insurance News