Business
Interim Results 2013
Interim Results 2013.
About this update from Aston Martin Lagonda Global Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 9462L Amlin PLC 19 August 2013 \n \n\n \nAMLIN PLC\nPRESS RELEASE\nFor immediate release\n19 August 2013\n \nInterim Results for the \nsix months ended 30 June 2013\n \nSolid performance demonstrates strength of Amlin's diversified franchise\nHighlights\n§ Profit before tax of £161.4 million (H1 2012: £184.4 million) \n§ First half return on equity of 9.3% (H1 2012: 11.9%), 18.6% annualised\n§ Gross written premium of £1,838.9 million (H1 2012: £1,814.7 million)\n§ Combined ratio of 85% (H1 2012: 84%), generating an underwriting profit of £158.2 million\n(H1 2012: £153.5 million)\n§ Large catastrophe losses higher than last year but limited at £32.2 million (H1 2012: £nil)\n§ Average overall rate movement flat (H1 2012: increase 4.2%), with renewal retention rate of 87% (H1 2012: 86%)\n§ Positive rate movements for key insurance classes offset downward pressure on catastrophe reinsurance rates \n§ Investment return of 1.4% (H1 2012: 2.0%), generating an investment contribution of £67.4 million (H1 2012: £84.7 million)\n§ Earnings per share of 28.2 pence (H1 2012: 34.1 pence)\n§ Interim dividend increased 4.0% to 7.8 pence per share (H1 2012: 7.5 pence per share)\n§ Net tangible assets per share increased 8.2% to 281.2 pence (31 December 2012: 259.8 pence)\n \nCharles Philipps, Chief Executive, commented as follows:\n\"These are a solid set of results which demonstrate a good level of underlying underwriting profitability. There are positive trends in a number of our businesses which will counteract downward pressure on catastrophe reinsurance rates and this reinforces the benefit of our diversification strategy. We are optimistic about the out-turn for the full year.\"\n\n\n\n\nEnquiries: \n\n\n\n\n\n\n\nCharles Philipps, Chief Executive, Amlin plc\n\n\n0207 746 1000\n\n\n\n\nRichard Hextall, Group Finance & Operations Director, Amlin plc\n\n\n0207 746 1000\n\n\n\n\nAnalysts and Investors\n\n\n\n\n\n\n\nJulianne Jessup, Head of Investor Relations, Amlin plc\n\n\n0207 746 1961\n\n\n\n\nMedia\n\n\n\n\n\n\n\nEd Berry, FTI Consulting\n\n\n0207 269 7297\n\n\n\n\n \nAmlin plc\nRegistered office\nSt Helen's \n1 Undershaft \n \nRegistered in England\nNo. 2854310\nLondon EC3A 8ND\n \nFinancial highlights(1) \n\n\n\n\n\n\n\nH1\n2013\n£m\n\n\nH1\n2012\n£m\n\n\nY...