Financial highlights

 
2006
£m
*2005
£m
*2004
£m
2003
£m
2002
£m
1,113.8
993.5
945.6
937.4
717.1
Net premium written (1)
1,013.5
829.3
790.2
787.6
573.0
973.9
822.1
722.4
701.1
493.3
Profit before tax
342.7
186.7
119.7
117.8
44.8
34.0%
29.6%
21.0%
26.6%
16.7%
Per share amounts (in pence)
          
Earnings
50.4
34.3
20.7
21.0
11.8
175.6
148.7
113.7
98.7
80.3
Net tangible assets
163.2
136.2
97.0
82.3
63.7
10.4
9.0
4.7
2.1
0.8
Dividends (paid and proposed final)
20.0
10.2
8.0
2.5
2.0
in respect of the calendar year
Syndicate 2001 operating ratios
          
Claims ratio
42%
57%
50%
50%
63%
Expense ratio
34%
25%
32%
36%
33%
76%
82%
82%
86%
96%
Amlin Bermuda Ltd operating ratios Claims ratio
Claims ratio
36%
-
-
-
-
Expense ratio
12%
-
-
-
-
48%
-
-
-
-

Basis of preparation
* The indicated columns above are restated for prior period adjustment as detailed in the accounting policies of the statutory report and accounts

(1) Excluding premiums associated with the reinsurance to close of our increased share of capacity.


Claims ratio is net claims incurred divided by net earned premium for the year. Expense ratio is underwriting expense incurred divided by net earned premium. The expense ratio does not include expenses that have not been attributed to underwriting or finance costs. Combined ratio is the total of the claims and expense ratio.

Net earned premium

Net earned premium up 18.5%

Group combined ratio

Record combined ratio of 72%

Net assets per share

Average compound annual growth in net assets per share 30% since 2002.