*
*
FIVE YEAR SUMMARY

FIVE YEAR SUMMARY

The additional information consisting of the five year summary and the syndicate participations have been prepared from the accounting and/or statutory records of the Group. While it does not form part of the statutory financial statement, it should be read in conjunction with them and the responsibilities section of the auditors’ report thereon.

The balance sheet assets and liabilities in the table below have been restated to take account of the change of treatment of own shares held by ESOT that was first adopted in the 2003 Report and Accounts.

2004
£m
2003
£m
2002
£m
2001
£m
2000
£m

Managed capacity (year of account) 1,000.0 999.6 799.7 574.5 538.0
Amlin share 1,000.0 861.6 578.3 400.1 310.8

Gross premiums written 945.6 937.4 717.1 587.4 363.3
Net premiums written 790.2 787.6 573.0 486.5 284.1
Earned premium 696.3 684.7 494.1 342.9 231.1

Balance on the technical account for general business 159.7 155.5 58.1   (56.0 ) (2.7 )

Operating profit (loss) based on longer term investment return 128.1 124.4 45.6   (61.7 ) (5.9 )

Profit (loss) before taxation 121.6 120.3 55.4   (81.5 ) (26.4 )
Profit (loss) after taxation 86.0 83.3 44.2   (67.0 ) (19.1 )
Equity dividends (31.3 ) (9.7 ) (7.6 ) -   (7.8 )

Retained profit (loss) for the period 54.7 73.6 36.6   (67.0 ) (26.9 )

Intangible assets 56.7 57.0 60.1 15.0 15.8
Other financial investments 1,301.4 1,048.4 773.9 510.4 440.5
Total assets * 2,372.1 1,951.4 1,766.7 1,521.9 993.7
Total liabilities (1,928.2 ) (1,568.1 ) (1,459.9 ) (1,387.5 ) (795.1 )

Equity shareholders’ funds * 443.9 383.3 306.8 134.4 198.6


Per-share results
Earnings per share
– basic 22.1p 21.6p 14.1p   (33.3p ) (9.6p )
– diluted 21.8p 21.4p 14.1p   (33.3p ) (9.7p )
Dividends per share 8.0p 2.5p 2.0p - 4.0p
Net assets per share * 113.6p 99.3p 80.3p 66.4p 100.1p
Tangible net assets per share * 99.1p 84.6p 64.5p 59.0p 92.1p

Share price (at 31 December) 141.5p 128.0p 119.0p 86.5p 109.0p

* The indicated amounts have been restated to the current policy, that was first adjusted in 2003, whereby ‘Own shares’ are deducted from equity, where they were previously classed as an asset. The per share amounts have been restated taking account of this change.




COPYRIGHT AMLIN2005



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