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2005 Highlights
Financial highlights |
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Record profit before tax of £182.7 million, after absorbing 2005 hurricane losses
of £130.1 million |
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Combined ratio stable at a healthy 82% |
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Record return on equity of 28.4% |
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Dividends (interim and proposed final) increased 27.5% to 10.2p per share |
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Rights issue successfully raised £215 million |
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US$175 million of longer term debt raised |
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Net assets of the Group increased 72% to £792.6 million |
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Operational highlights |
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Amlin Bermuda launched with US$1 billion of capital |
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Strong insurance financial strength ratings assigned to Syndicate 2001 and
Amlin Bermuda |
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London market brokers rank Amlin as leading business for claims service |
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Continued leadership of process improvements for London market underwriting
and claims |
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Turnover among senior underwriters was below 5% for fifth year in succession |
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Outlook for 2006 |
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Strong opening position with unearned premium reserve of £523.8 million
carried forward to 2006 |
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Stronger pricing in key classes, including reinsurance, property and energy |
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Good start to year with gross premiums up 26% in first two months |
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Higher cash and investments, totalling £2.1 billion, increases potential return
from investments |
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Print |
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