Amlin reports note first-half earnings

Amlin says it achieved note earnings during the first half of 2009, with pre-tax profit up 29% to £177.1 million, compared with £137.3 million also in behalf of the same period of 2008.

The group received a boost from its investment gains, which generated an increased contribution of £53.1 million compared with £22.5 million in the foremost half of 2008.

The Lloyd’s insurer and re-insurer also reported that the integration of Fortis Corporate Bond N.V. (now Amlin Corporate Insurance N.V.) is proceeding away, following completion of the acquisition last month.

The firm has raised its interim dividend to 6.5 pence per piece from 6 pence per share this time last year.

Chief top banana, Charles Philipps, comments: “We have had an excellent first half both in terms of results and the increase of the Group with the acquisition of ACI.”

He adds: “We be subjected to already benefited from improvements in catastrophe exposed lines and Amlin is exceptionally incredibly positioned to grow into better market conditions when similar positive trends come forth in the other classes in Amlin’s portfolio.”