1 June 2012 Insurance

Good capitalisation underpins Amlin’s ratings, says Fitch

Rating agency Fitch has affirmed Amlin’s Insurer Financial Strength (IFS) rating of 'A+', and its Long-term Issuer Default Rating (IDR) rating of 'A-'.

The agency has also rated Amlin’s subordinated notes at 'BBB-'. All outlooks are stable. In a statement the agency said: “The strength of Amlin's capitalisation, as assessed by Fitch on a risk-adjusted basis, underpins the group's ratings.

“Capitalisation based on this measure is expected to return to being commensurate with the current rating level at end-2012, following a reduction in shareholders' funds at end-2011.

“The agency views the key short-term risk for Amlin's capital position as the industry's common risk of a level of catastrophic loss in excess of the historical norm, in 2012.”

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