Amlin PLC
22 December 2005
AMLIN PLC
PRESS RELEASE
For immediate release
22 December 2005
AMLIN BERMUDA LIMITED ACHIEVES 'A' RATING FROM S&P
Amlin plc ('Amlin') today confirmed that its new Bermuda reinsurance operation
has been assigned 'A' counterparty credit and insurer financial strength ratings
(IFRS) by Standard & Poor's, both with a stable outlook.
The rating rationale noted Amlin's 'strong and improving competitive position,
its track record of strong earnings and its superior operational management' in
explaining that the ratings criteria S&P 'would ordinarily apply to a start-up
is not relevant in this case.'
The rating agency also assigned its interactive Lloyd's Syndicate Assessment of
'4' to Amlin Syndicate 2001, also with a stable outlook. Major assessment
factors included the Syndicate's 'strong competitive position as the largest,
and one of the most highly respected, at Lloyd's' and the fact that it has '
consistently outperformed the Market in each of the five most recent years of
account.'
Richard Hextall, Finance Director, commented; 'We are pleased that Standard &
Poor's have considered the overall strength of the Amlin Group in reaching these
rating assessments. We believe that leveraging the Group's profile and
processes will prove a strong differentiator for Amlin Bermuda and its ability
to deliver on our strategy for growing our international business.'
-Ends-
Enquiries:
Charles Philipps, Amlin plc 0207 746 1000
Richard Hextall, Amlin plc 0207 746 1000
Hannah Bale, Amlin plc 0207 746 1118
Peter Rigby, Haggie Financial 0207 417 8989/
07803 851426
This information is provided by RNS
The company news service from the London Stock Exchange
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