Preliminary Results for the Year Ended 31 December 2009
Record performance and strategic growth
Highlights
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Record profit before tax of £509.1 million (2008: £121.6 million)
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Return on equity of 37.0% (2008: 7.8%)
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Amlin Corporate Insurance return on investment of 12.8% since acquisition
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Excellent combined ratio of 72% (2008: 76%)
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Reserve releases of £174.1 million (2008: £114.7 million)
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Record investment contribution of £207.5 million (2008: £18.0 million) with returns of 5.9% (2008: 0.6%)
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Dividend (paid and declared) increased by 17.6% to 20.0 pence per share (2008: 17.0 pence)
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Gross assets increased 35.8% to £5,673.0 million (2008: £4,176.3 million)
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Net tangible assets per share increased 22.7% to 289.6 pence (2008: 236.0 pence)
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Strong capital position to develop the business
Charles Philipps, Chief Executive, commented as follows:
“Once again, the Group’s financial performance in 2009 was excellent, reflecting the quality of our underwriting businesses and a recovery in investment markets. We also made significant progress strategically, most notably with the acquisition of the Fortis Group’s commercial insurance operations in the Benelux countries, which now trade as Amlin Corporate Insurance.”
View the full Press Release in PDF format.
