Annual Report 2005
Home 2005 Highlights Chairman's Statement Overview Management, governance & CSR  
 
  Overview
  Amlin at a glance
    Bermuda
    Non-Marine
    Marine
    Aviation
    UK Commercial
  Vision & strategy
  Operating environment
  Delivering Value
  Financial performance
  Outlook for 2006
Operating & Financial Review
Amlin Bermuda Limited
 
 
John Andrews - Underwriting Director
 
Key statistics for 2005
 
 
  • Underwriting from 1 December 2005
  • Capitalised at US$1 billion
  • Only 2005 Bermuda start-up rated 'A' by Standard & Poor's
  • Initial focus on geographically spread catastrophe and property reinsurance account
 
 
 
2005 Actual written premium
 
Gross premium by class
 
 
2005
Proportional catastrophe
93.7%
Catastrophe reinsurance
4.8%
Property reinsurance
1.5%
 
 
 
Ratings
A.M. Best - 'A-' (Excellent)
"Amlin Bermuda will benefit from the transfer of management expertise and access to profitable business from its Lloyd's operation and has an established infrastructure in place in Bermuda."

Moody's - 'A2' (Stable)
"Being an important part of the Amlin Group, Amlin Bermuda has strong potential to capitalise on the significantly improved market conditions post the 2005 hurricanes, with the advantage of having no legacy reserving issues."

Standard & Poor's - 'A' (Stable)
"The formation of Amlin Bermuda should enable the group to gain further leverage from its franchise, primarily through the reinforcement of its relationships both with its clients and key London Market brokers."

 
 


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