Review

The business – Amlin London

2008 was a challenging year but Amlin London’s underwriting performance was good. With rates now turning in a number of our key classes and our organisational changes complete, we are well placed to take advantage.

Simon Beale
Underwriting Director, Amlin London

Key performance indicators

Gross written premium

2008: £689.7m 2007: £751.4m

Average rate reduction

2008: 7.7% 2007: 5.8%

Retention ratio

2008: 83% 2007: 79%

Combined ratio

2008: 72% 2007: 65%

Amlin London operates through Syndicate 2001 at Lloyd’s. It is organised into four business units, Reinsurance, Property & Casualty, Marine and Aviation, writing 25 classes of business and providing a diverse portfolio of risks. Together, Reinsurance and Property & Casualty formerly made up our Non-marine business.

Amlin London writes policies predominantly on a subscription basis. The key geographic market is the US, which accounted for 46% of gross written premium in 2008, although business is written worldwide.