UPDATE 1-Insurer Amlin returns to profit on lower claims

Mon Mar 4, 2013 2:39am EST

Related Topics

* FY pretax 264.2 million stg vs 200 mln loss previous year

* Catastrophe-related claims fall to 152.3 mln from 501 mln

* To pay dividend of 24p/shr vs 23p

LONDON, March 4 (Reuters) - Amlin Plc, the biggest listed British insurer operating in the Lloyd's of London market, returned to profit last year thanks to lower catastrophe claims, it said on Monday.

Amlin made a 2012 pretax profit of 264.2 million pounds ($396.6 million), rebounding from a 200 million pound loss the previous year, when insurers worldwide were hit by a near-record claims bill from Japan's Tohoku earthquake and heavy floods in Thailand.

Amlin's catastrophe-related claims last year fell to 152.3 million pounds from 501 million in 2011. The bulk of the 2012 bill was due to Superstorm Sandy, which cost the insurer 141.6 million pounds, little changed from an initial estimate of 145 million published in December.

"We are well positioned to continue to expand into more favourable market conditions," Chief Executive Charles Philipps said in a statement,

Amlin is paying a 2012 dividend of 24 pence per share, up from 23p the previous year.

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