Lloyd’s of London insurer Amlin share price rockets 33 per cent as Mitsui Sumitomo swoops for £3.5bn Following July's takeover of the Financial Times by Nikkei, another Japanese giant has swooped on a British company, after the board of Lloyd's of London insurer Amlin recommended an £3.5bn offer by Mitsui Sumitomo. In a statement today, Amlin said Mitsui had offered 670p in per share, a 36 per cent premium to Amlin's closing [...]
Amlin share price dip as profits drop due to challenging marketplace Lloyd’s insurer Amlin saw shares fall by 4.63 per cent yesterday, after reporting declining profits for 2014. Profit before tax fell from £325.7m in 2013 to £258.7m, despite gross written premiums increasing from £2.47bn to £2.56bn. Combined operating ratio worsened, from 86 per cent to 89 per cent. The provider increased its dividend to 27p [...]
Amlin share price dips but declining insurance rates fail to stop growing premiums Shares in insurance firm Amlin dipped by more than three per cent yesterday, as the company reported rate reductions across a range of its products during the first nine months of 2014. Average renewal rates were down by 2.5 per cent, although UK fleet motor rates were up by 5.7 per cent, while other UK [...]
Amlin’s profits battered by strong pound and hail storm catastrophe losses August 18, 2014 Lloyd’s of London insurer Amlin saw its pre-tax profit fall eight per cent for the first half of 2014, with a strong pound and higher than usual catastrophe losses behind the dip. Pre-tax profit fell to £148.5m from £161.4m in the same period a year ago, the FTSE 250 company said in a statement yesterday. [...]
Amlin’s Formula-E race car partnership puts pedal to the metal June 30, 2014 Lloyd’s-based reinsurance company Amlin gave lunching City-ites something to gawk at yesterday with the unveiling of its new sponsorship target, a Formula-E race car and British race-driver Katherine Legge. What the bejeezus is Formula-E? It’s like your bog standard Formula One except the cars are electric rather than gas guzzling. They also race internationally, [...]