£193.8 million losses for Amlin

Amlin has reported pre-tax losses of £193.8 million for 2011, compared with a pre-tax profit of £259.2 million in 2010.

The company also announced catastrophe losses of £500.8 million and a negative return on equity of 8.6 percent.

“While catastrophe claims were a primary focus during the year, importantly, we continued to make strategic progress,” says Charles Philipps, chief executive of Amlin.

“Our strong balance sheet and leading market position means that we are already benefiting from the improving trading environment and are well placed to resume the delivery of good returns for Shareholders.”