Highlights
Profit before tax of £264.2 million (2011: loss before tax £193.8 million), after £141.6 million of claims attributable to Hurricane Sandy (2011: £500.8 million total net catastrophe claims)
Return on equity of 17.4% (2011: negative 8.6%), above our estimated cost of equity of 8.5%
Combined ratio of 89% (2011: 108%), with positive trends in all divisions
Excellent investment return of £165.3 million, equivalent to 4.1% on average invested assets (2011: £40.5 million, 0.9%)
Dividend declared increased by 4.3% to 24.0 pence per share (2011: 23.0 pence per share)
Net tangible assets per share of 258.5 pence (2011: 243.0 pence)
Charles Philipps, Chief Executive, commented as follows:
"In 2012, Amlin returned to robust profitability and generated a strong return on equity. Recent growth is building earnings momentum and with profits from our non-catastrophe businesses improving, we are well positioned to continue to expand into more favourable market conditions."
