Annual Report 2008

Underwriting performance

Amlin Bermuda wrote gross premium of US$549.5 million in the year (2007: US$466.8 million). Of this US$196.2 million was attributable to quota share and other reinsurances of Syndicate 2001 (2007: US$180.5 million). The biggest contributing class was catastrophe reinsurance which generated US$ 211.1 million of premium (2007: US$172 million).

Given the impact of the hurricanes the combined ratio of 83% (2007: 46%) is a strong result. Reserve releases amounted to US$40.1 million (2007: US$24.1 million). The expense ratio of 15% is low relative to the London operations due to the high operational gearing.

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