Positive outlook for 2007

A continuing healthy environment in many classes.

Amlin Bermuda growing.

Continued well reserved balance sheet.

Net unearned premium reserve of £507.8 million.

Improving prospects for investment returns.

Net unearned premium reserve

Healthy net unearned
premium reserve

Reserve releases

Well reserved balance sheet with history of prior year run-off profits

Cash and investments

Year end investments of £2.4 billion