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Insurer Amlin boosted by fewer catastrophe claims
March 3, 2014 / 7:32 AM / 4 years ago

Insurer Amlin boosted by fewer catastrophe claims

March 3 (Reuters) - Insurer and reinsurer Amlin Plc posted a 23 percent rise in profit, benefitting from a year with few major catastrophe claims.

Amlin, Lloyd’s of London’s largest listed British underwriter, said European flooding, hail in France and windstorms in Britain and Northern Europe had meant a small loss in Amlin Re Europe and impacted results in the UK.

The FTSE-250 company’s pretax profit increased to 325.7 million pounds ($545.8 million) for the year ended Dec. 31, from 264.2 million pounds a year earlier. The underwriter said it would pay a dividend of 26 pence per share, up 8.3 percent from last year.

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