Catastrophes rates up 15.9 percent, says Amlin

Catastrophe rates have increased by an average of 15.9 percent at the January renewals, for Amlin's Bermuda and London businesses.

The company said that rates were driven up by ‘unprecedented catastrophe activity’ during the last year, and that income levels overall had been boosted by Amlin Re Europe, which increased its gross written premium from £55.6 million in January 2011 to £125 million in January this year.

Renewal rates for the Amlin Group were up 4 percent this January, in comparison with a decrease of 1.3 percent in January last year.