Our approach
Amlin aims to meet the expectations of its shareholders, employees and other stakeholders in recognising, measuring and managing the impacts of its business activities. We have a role to play,
not only as a responsible employer and member of the financial services communities in London and Bermuda, but also as an insurer and reinsurer of some of the world's largest and most complex risks.

Amlin is a member of FTSE4 Good Index and utilises the LSE Corporate Responsibility Exchange platform to report on corporate responsibility and governance.

In terms of our direct corporate responsibilities, we have reviewed our employee engagement, environmental impact, charity and community involvement, client relationships and shareholder relations.

Charity and community
Amlin is committed to engaging with its local communities and to supporting charities related to
children and health. There is a significant body of research showing that charities value a partnership approach, involving co-working and skills transfer as well as fundraising. It is also clear that continuity of relationships with business partners is greatly valued.

Bernie Stack, our pallative care radiographer, pictured with CT scanner which gives three-dimensional images used in diagnosing tumours.

Amlin has supported Macmillan Cancer Relief for three years, raising money to part fund a palliative care radiographer post at Guy's and St. Thomas' Hospital. We jointly negotiated this three-year funding arrangement on the understanding that the NHS Trust would take over thereafter and we hope our involvement will have a lasting benefit for patient care. Fund raising initiatives in 2005 included a sponsored walk by Amlin staff across the London bridges which raised some £3,000.

In 2005 we participated in the Reading Partners Scheme in the London Borough of Tower Hamlets for the sixth year running. We also continued our involvement with the Metropolitan Police mentoring scheme, set up by the Lloyd's Community Programme in 2004.

We have broadened our programme for 2006, with the selection of two new community partners, ChildLine and Hackney Quest. Both charities offer the opportunity to leverage the educational, technical and communication skills of our employees.

Client relationships
Amlin's core purpose is to enable companies and organisations to concentrate on their business goals by managing, together with their brokers, the varied risks of an uncertain world. Our underwriters, wording and claims professionals maintain regular dialogue with brokers and insureds and we are committed to providing a high quality of service.

In 2005, we have also undertaken further research into our broker and client relationships, both independently and as a participant of London market surveys. These are covered in the Client section of this annual report.

Employees
In 2005 we introduced a new Code of Conduct, developed by a cross-functional team from across
the business. The Code replaced our long-standing Business Ethics Policy and summarises the standards which must be applied in all our dealings with stakeholders, taking account of the Institute
of Business Ethics standards and the principles promoted by the Chartered Institute of Insurance.

We continue to encourage an active dialogue with our employees through a variety of channels. These include an Employee Consultation Forum, first established in 2004, and Amlin Voice, an intranet message board. In 2005 we have taken steps to further improve internal communication across the Group in order to increase awareness of major initiatives and engender involvement and commitment to the Group's strategy. As an independent check of our progress against employee expectations, we intend to conduct our second MORI employee opinion survey in 2006.

Amlin is committed to promoting a safe working environment for its employees at all sites. Health and safety procedures are communicated as part of the induction seminars and on the intranet. Regular assessments are undertaken to ensure compliance with all regulations.

Environment
During 2005, we further developed our management of the direct environmental impact of our operations. We introduced regular reporting against our targets for energy, materials and water usage, and recycling of waste and we began environmental monitoring of business travel.

New initiatives to improve environmental efficiency include double sided printing and copying as the default option, increased use of scanning and re-usable glass water bottles.

Amlin has won a Gold Award every year since 1998 under the City of London Clean City Award Scheme. This partnership scheme between the Corporation of London and City businesses aims to achieve a clean environment through good waste management.

There remain direct environmental impacts which we cannot avoid, notably business air travel, and
we are currently researching methods by which we can counteract these, such as the use of video conferencing.

Climate change affects some 35% - 40% of global insured risks, making it a significant external risk
to our future business. In 2006, we aim to explore options for engaging more fully in understanding climate change and its long term impact on our business. We also plan to review the extent to which our underwriting risk analysis could have a greater positive influence on environmental risk management in such industries as marine and energy.