AGM Statement

Amlin PLC
18 May 2005


PRESS RELEASE
18th May 2005
For Immediate Release



AGM Statement and update on current trading

At its Annual General Meeting held today, Amlin ('Amlin'), the leading Lloyd's
insurer, will provide an update to Syndicate 2001's forecasts for the 2003 and
2004 years of account and will comment on current trading as set out below.

Current trading

Our underwriting activity in 2005 is developing broadly in line with our
expectations.  Syndicate 2001's premium income (net of brokerage) to the end of
April 2005 was £415 million (at rates of $1.89:£1), compared to £459 million for
the previous year.  This represents 52% of the Syndicate's planned income for
the year.  The reduction in premium income is consistent with the 15% reduction
in capacity for the syndicate in 2005.

The average renewal rate reduction for the first quarter was 3% with renewal
retention at 86%.  The most recent 1 April renewals for Japanese treaty
exposures resulted in modest rate increases, as expected following the scale of
windstorm losses in Japan during 2004.  We expect that rate increases will also
be achieved on our Florida and Caribbean exposures which renew over the next
couple of months.

The reduction in premium income is predominantly in the non-marine account and
reflects a disciplined, profit focussed approach to underwriting as rates come
under pressure.  New business levels are reducing as our underwriters seek to
avoid more intensive areas of competition.

The most significant catastrophe loss affecting the insurance industry in the
2005 calendar year to date is Windstorm Erwin which struck Northern Europe in
January.  Amlin's gross loss from this event is currently estimated to be £11
million.

Forecasts

The forecasts for the 2003 and 2004 years of account, which are expressed as a
percentage of capacity after standard personal expenses, are as follows:


Year of      Capacity      Amlin share         Current           Previous 
account         £m              %             forecasts          forecasts

 2003         1,000            86.2         17.0% to 22.0%     16.0% to 21.0%
 2004         1,000           100.0         7.0% to 12.0%       6.0% to 11.0%



Claims development for both years of account has been good.  A considerable
amount of exposure remains on risk for the 2004 year of account, particularly
for our aviation account, but Amlin expects the forecasts to continue to improve
if a normal level of loss development is experienced.

Roger Taylor, Chairman of Amlin, added: 'Trading conditions remain positive with
some discipline evident in our markets.  We are pleased with the continuing good
development of the 2003 and 2004 years of account which underpins the outlook
for this year.'

- Ends -

Enquiries:

Charles Philipps, Amlin plc                                  0207 746 1000
Richard Hextall, Amlin plc                                   0207 746 1000
David Haggie, Haggie Financial Limited                       0207 417 8989


                      This information is provided by RNS
            The company news service from the London Stock Exchange