|
Year ended 31 December 2007 |
Aviation £m |
Non- marine £m |
Marine £m |
UK Commercial £m |
Total UK divisions £m |
Amlin Bermuda |
Intra group items £m |
Other technical £m |
Total £m |
|
Gross premium written
|
|||||||||
|
Analysed by geographic segment
|
|||||||||
|
UK
|
11.1 | 49.4 | 50.1 | 134.0 | 244.6 | 105.1 | (90.3) | 1.6 | 261.0 |
|
US
|
21.3 | 300.0 | 41.8 | 0.1 | 363.2 | 90.2 | – | – | 453.4 |
|
Europe
|
13.6 | 39.3 | 34.7 | 4.9 | 92.5 | 8.3 | – | – | 100.8 |
|
Worldwide
|
0.4 | 17.3 | 21.3 | 1.3 | 40.3 | – | – | – | 40.3 |
|
Other
|
17.2 | 94.6 | 39.3 | 8.9 | 160.0 | 29.2 | – | – | 189.2 |
|
Total
|
63.6 | 500.6 | 187.2 | 149.2 | 900.6 | 232.8 | (90.3) | 1.6 | 1,044.7 |
|
Gross premium earned
|
71.3 | 534.0 | 198.0 | 151.3 | 954.6 | 216.2 | (84.3) | 1.5 | 1,088.0 |
|
Reinsurance premium ceded
|
(24.3) | (107.8) | (40.9) | (21.0) | (194.0) | – | 78.3 | – | (115.7) |
|
Net premium earned
|
47.0 | 426.2 | 157.1 | 130.3 | 760.6 | 216.2 | (6.0) | 1.5 | 972.3 |
|
Insurance claims and claims settlement expenses
|
(34.0) | (148.7) | (83.6) | (84.8) | (351.1) | (73.6) | 45.2 | (0.6) | (380.1) |
|
Reinsurance recoveries
|
19.4 | 31.0 | 15.8 | 4.8 | 71.0 | – | (45.2) | 0.1 | 25.9 |
|
Underwriting expenses
|
(17.2) | (133.2) | (59.3) | (31.4) | (241.1) | (26.4) | 6.0 | (1.6) | (263.1) |
|
Profit attributable to underwriting
|
15.2 | 175.3 | 30.0 | 18.9 | 239.4 | 116.2 | – | (0.6) | 355.0 |
|
Investment return
|
114.1 | 42.9 | 157.0 | ||||||
|
Other operating income
|
2.8 | 2.8 | |||||||
|
Agency expenses(1)
|
(2.1) | (15.3) | (4.4) | (4.1) | (25.9) | 25.9 | – | ||
|
Other non-underwriting expenses(2)
|
(49.8) | ||||||||
|
Finance costs(2)
|
(20.0) | ||||||||
|
Profit before taxation
|
445.0 | ||||||||
|
Combined ratio
|
68% | 59% | 81% | 85% | 69% | 46% | 63% |
Included within the UK gross premium written of Amlin Bermuda Ltd is premium ceded from Syndicate 2001 amounting to £90.3 million (2006: £100.8 million) on reinsurance contracts undertaken at commercial rates.
(1)Agency expenses allocated to segments represent fees and commission payable to Amlin Underwriting Limited;
(2)Other non-underwriting expenses and finance costs are incurred in support of the entire business of the Group and have not been allocated to particular segments.