Amlin profits sliced in two
2nd Mar 2011 08:15
Last year's earthquakes in Chile and New Zealand, storms in Europe and floods in Australia halved profits at Amlin in 2010. Profit before tax fell 49% to £259.2m last year as the two big earthquakes cost the group £203.6m. The BP oil spill in the Gulf of Mexico also proved expensive. It's too earl
Read moreMonday newspaper round-up: Banks, Fuel duty, Amlin...
14th Feb 2011 06:48
Britain's banks, which are preparing to announce multi-million pound annual bonuses to senior staff, are pocketing hidden subsidies worth more than £32.5bn a year from the taxpayer, it was disclosed last night. Research by the New Economics Foundation (NEF) think-tank calculated that the banks are
Read moreAmlin buys super-yacht underwriter
28th Jan 2011 07:45
Underwriter Amlin is to acquire super-yacht insurance specialist Lead Yacht Underwriters. Established in 1997 and based in London, Lead Yacht underwrites through an exclusive network of insurance brokers. In the current financial year it expects to handle in the region of $34m of gross written prem
Read moreRound-up: Hamworthy, Meggitt, SciSys...
26th Jan 2011 14:51
Engineer Hamworthy expects 'significantly' to exceed previous earnings expectations for the year to March after strong demand for after sales products and services, an increase in order intake from the oil and gas market and a reduction in the instances of customers delaying delivery dates. "It r
Read moreMixed Q3 for Amlin
15th Nov 2010 08:25
Underwriter Amlin is on track to deliver a good current year return considering the "mixed" trading conditions experienced during the third quarter. The biggest Lloyd's of London insurer said downward pressure on premium rates persisted in many areas, although upward momentum continued in UK fleet
Read moreAmlin non-exec increases stake
22nd Oct 2010 16:41
Amlin independent non-executive director Sir Mark Wrightson has invested nearly £20,000 in increasing his stake in the Lloyds' insurance firm. Sir Mark bought 5,000 shares at 395.75p each, taking his stake to 13,888 shares. He also acquired 1,000 shares 395.26p a share in his position as a trustee
Read moreBroker tips: ICAP, Ocado, Lloyd's insurers
1st Sep 2010 13:15
Inter-dealer broker ICAP is set to launch a new electronic platform for euro interest rate swaps (IRS) on 6 September, which suggests to ICAP fan Panmure Gordon that dealers are warming to the faceless alternative to telephonic transactions. "Significantly, the initiative has the liquidity support
Read moreBroker snap: Lloyd's syndicates watching 'hurricane Earl'
1st Sep 2010 11:49
Hurricane season is underway and a 120 miles per hour category four hurricane, 'hurricane Earl', could hit land in North America later this year. For once, it looks as if the Gulf of Mexico will not be affected but a number of Lloyd's syndicates will be monitoring its progress for fear it will hit t
Read moreMARKET TALK: Jefferies Starts Coverage Of Specialist Insurers
20th Jul 2010 07:10
0610 GMT [Dow Jones] Jefferies initiates coverage of London-listed specialist insurers with a positive view. Starts Amlin (AML.LN) and Lancashire Holdings (LRE.LN) at buy with 478p and 638p targets respectively; Catlin (CGL.LN) and Hiscox (HSX.LN) at hold with 406p and 371p targets respectively; an
Read moreUK MARKET TALK ROUNDUP: BROKERS COMMENTS
20th Jul 2010 07:10
Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0610 GMT [Dow Jones] Jefferies initiates coverage of London-listed specialist insurers with a positive view. Starts Amlin (A
Read moreMARKET TALK: Citigroup Upgrades Amlin To Buy
2nd Jul 2010 07:31
0631 GMT [Dow Jones] Citigroup upgrades Amlin (AML.LN) to buy from hold, and raises its target price to 470p from 420p. Says shares have been treading water of late, and while this represents a strong performance relative to the broader market, "it fails to capture the group's strategic progress and
Read moreUK MARKET TALK ROUNDUP: BROKERS COMMENTS
2nd Jul 2010 07:31
Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0631 GMT [Dow Jones] Citigroup upgrades Amlin (AML.LN) to buy from hold, and raises its target price to 470p from 420p. Says
Read moreLondon open: BP revival lifts Footsie
11th Jun 2010 08:58
A revival by BP has started Footsie off on the front foot this morning after a surge by oil stocks on Wall Street overnight. BP is the best performer. The company yesterday reported the amount of oil is capturing from the Gulf of Mexico leak has risen to 15,800 barrels per day, though an upward rev
Read moreAmlin says trading environment 'challenging'
13th May 2010 12:39
Underwriter Amlin said the trading environment has proved more challenging in the first four months of 2010 than in the previous year, with average rates falling 1.4%. Estimates of overall catastrophe losses in the period to 31 March 2010 reached $16bn, the worst first quarter on record. Gross wri
Read moreCatlin sees Chile exposure at $140m
25th Mar 2010 12:14
Underwriter Catlin put its initial estimate of the financial impact of the Chilean earthquake at $140m, but cautions that this is only a very preliminary figure because there is still so much uncertainty. The estimate is based on a total loss forecast of $6bn, with approximately two-thirds of its
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