Profits up at Amlin
Amlin has returned to pre-tax profit in the first half of 2012 with a result of £184.5m reversing a loss of £192.3m in the same period last year.
Gross written premiums (GWP) at the insurer also increased by 19.8% to £1.81bn (H1 2011: £1.51bn) as the combined operating ratio (COR) improved markedly to 84% from 122% in the first half of 2011.
The results for the six months ended 30 June 2012 at Amlin UK also improved. GWP was up to £227m (H1 2011: £167.4m).
However the COR, while still improved, fared less well as it moved from 111% in the 2011 to 99% in 2012 delivering an underwriting contribution of £1.3m.
In its results statement the
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