Hashtag: #Amlin

Amlin Chairman To Retire After Losses

Lloyd’s of London insurer Amlin — which operates a major Bermuda subsidiary — today [Mar.5] reported net catastrophe losses of £500.8 million when it expected £170 million and its combined ratio was 108% (2010: 89%), with 27 points generated by major catastrophe losses. Investment return plummeted to £40.5 million, equivalent to... Read more of this article

Amlin: Flood Costs To Top $50M

Lloyd’s re/insurer Amlin — which operates a major Bermuda subsidiary — said today [Feb. 7] it expects property and casualty reinsurance claims for the Thai floods to be in the range of $50 million to $70 million, net of reinsurance recoveries. The scale of the insured damage arising from the flooding in Thailand remains uncertain, but... Read more of this article

Amlin Sells $150M In Cat Bonds

Amlin, the biggest insurer in the Lloyd’s of London market, said it has sold $150 million of catastrophe bonds through a Bermuda subsidiary to protect itself against potential losses from US earthquakes and hurricanes and European storms. The bond issue, carried out through Bermuda-based vehicle Tramline Re, is double the $75 million of cover... Read more of this article

Amlin Ratings Affirmed By Best

Ratings agency A.M. Best has affirmed the financial strength rating [FSR] of A+ [Superior] and issuer credit rating [ICR] of “aa-” of Lloyd’s Syndicate 2001, which is managed by Amlin Underwriting Limited, and the FSR of A [Excellent] and ICR of “a” of Amlin AG which redomiciled to Switzerland from Bermuda in 2010. Despite... Read more of this article

The 9/11 Attacks & Bermuda’s Class Of ’01

The tenth anniversary of the September 11 terror attacks on the US last month provided time for reflection on how the world has changed for good and ill since then, the “Financial Times” reported this week — saying both Bermuda and the global insurance industry were altered beyond recognition by those events. Osama bin-Laden’s... Read more of this article

Amlin: ‘It Has Been A Demanding Year’

Lloyd’s firm Amlin – which has a major Bermuda presence – today [Mar.2] reported its annual income was down by half in 2010 to £259.2 million as a result of “significant” natural catastrophe claims, with the firm incurring £204 million in losses from Chile and New Zealand earthquakes last year. Reserve releases of £156.5 million... Read more of this article