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Saturday 12 July 2014

Amlin first-half profit falls on higher catastrophe losses

Published 19/08/2013|08:11

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An area flooded by River Elbe near Fischbeck, central Germany (AP)
An area flooded by River Elbe near Fischbeck, central Germany (AP)

INSURER Amlin’s first-half profit fell 12.5pc due to higher catastrophe losses from the recent floods in Europe.

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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.

Reuters

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