Amlin first-half profit falls on higher catastrophe losses
INSURER Amlin’s first-half profit fell 12.5pc due to higher catastrophe losses from the recent floods in Europe.
Pretax profit for the six months ended June 30, fell to £161.4m from £184.4m a year earlier.
The insurer reported catastrophe losses of £32.2m compared to last year when no catastrophe losses were recorded.
Gross written premium rose 1.3pc to £1.84bn pounds.
Shares in the FTSE-250 company, Lloyd's of London's largest listed British underwriter, closed at 391.3 pence on Friday on the London Stock Exchange.