Amlin sales up and says premiums rising

12th May 2011 10:40

Amlin, the biggest Lloyd's of London insurer by market value, said sales went up 14% for the four months ended 30 April 2011 at £1,1bn.This compared to £964m in the same period of 2010 with much of the gain driven by new business in Amlin's UK division.The firm also said that following the natural disasters in Australia, New Zealand and Japan, rates were going up in the industry following a period of softening.Amlin said it had set aside £260m to cover claims for the New Zealand and Japanese earthquakes, in line with earlier estimates.Claims from the 2011 Queensland floods, which affected Brisbane and surrounding territories, are also materially unchanged from the estimated £15 million disclosed in April, the firm said.The company also announced has appointed Kim Hvirgel as the new Chief Executive of its wholly owned Netherlands-based subsidiary, ACI.