Amlin plc has released results for the year ended 31 December 2013. Like all of the listed Lloyd’s vehicles that have reported their results so far this year (and only Novae has yet to report), the figures show increased gross premiums and overall profitability, with a lower combined ratio. The summary figures are as follows:

 

 

2013

£m

2012

£m

Gross written premium

2,467.4

2,405.6

Net written premium

2,107.4

2,058.6

Net earned premium

2,077.4

1,970.5

Investment return

160.4

165.3

Result before tax

325.7

264.2

Return on equity

19.8%

17.4%

Claims ratio

52%

57%

Expense ratio

34%

32%

Combined ratio

86%

89%

Rates for renewal business were down by 2.1% in January, although rates for catastrophe business were down by an average of 8.4%. The full results statement can be found here and the analysts' presentation slides here.

Amlin has also released results for the special purpose reinsurance syndicate 6106, which underwrote a quota share of market of the London market reinsurance business. These are as follows

 

 

Result/Forecast as at

31 December 2013

Forecast as at

30 September 2013

Change at Midpoint

2011

19.19% profit

15.49% to 20.49% profit

+1.2 percentage points

2012

39.96% to 44.96% profit

40.62% to 45.62% profit

-0.66 percentage points