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Amlin profit before tax 143.3 million pounds

Staff writer ▼ | August 24, 2015
Amlin reported interim results for the six months ended June 30, 2015. Profit before tax was £143.3 million (H1 2014: £148.5 million).
Amlin
Amlin   First half return on equity was 7.4%
First half return on equity was 7.4% (H1 2014: 8.1%), 14.8% annualised. Return on net tangible assets was 8.7% (H1 2014: 9.5%), 17.4% annualised.

Other highlights

Gross written premium has increased by 6.2% to £2,007.6 million (H1 2014: £1,891.2 million).

Average overall rate decrease of 4.0% (H1 2014: 3.3%), with renewal retention rate healthy at 88% (H1 2014: 86%).

Net earned premium decreased by 7.5% to £1,031.3 million (H1 2014: £1,114.8 million), reflecting seasonal risk profiling of windstorm premium, changes in mix in the Reinsurance account and multi-year contracts.

Combined ratio of 91% (H1 2014: 87%) due to higher expense ratio on lower net earned premium (combined ratio of 89% before seasonality adjustment).

Strong investment return of 2.2% (H1 2014: 1.3%). Interim dividend increased 3.7% to 8.4 pence per share (H1 2014: 8.1 pence per share). Leadenhall Capital Partners increased funds under management by 6.7% to $2.0 billion, supported by initiatives with the Reinsurance SBU.


 

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