Amlin Plc

Along with the challenges presented by catastrophe losses and investment asset impairment in 2008, the two other clear themes in the Amlin annual report were the positive impact of favourable foreign exchange gains and the need to balance the inherent volatility of its catastrophe exposed business with the more predictable, if sometimes attritional, results of such lines as UK commercial motor, liability (including professional indemnity) and aviation insurance

The performance of Amlin Plc, the Lloyd’s market and Bermuda based specialist insurance and reinsurance group, was significantly impacted by the deterioration in trading and financial market conditions in 2008: so much so, the group’s net profit result was reduced by 77.2% from a record profit of £352.8mn in 2007 to a profit of only £80.4mn in 2008.