Syndicate Forecasts

Amlin PLC
26 November 2002


PRESS RELEASE
DATE     26 November 2002



Amlin plc: Syndicate Forecasts

Amlin Underwriting Limited, the leading managing agency owned by Amlin plc, has
updated its forecasts in respect of the 2000 and 2001 years of account.

Current trading

Trading conditions for the year to date have been strong and market conditions
suggest that this will continue for at least the next year.

Gross written premium income for Syndicate 2001 (net of brokerage) in the first
ten months of 2002 was £705 million, an increase of 52% over the gross written
premium at the same stage in 2001, of £463 million.

The low level of loss incidence reported at June has continued through the year
to date. Syndicate 2001's overall gross incurred loss ratio for the 2002 year of
account as at 30 September stood at 12.6%. This compares to a gross incurred
loss ratio for the 2001 year of account, at the same stage in 2001, of 27.7%
(excluding 11 September losses).

Syndicate 2001

The latest forecasts for the 2000 and 2001 years of account, both including and
excluding the estimated effects of 11 September 2001 terrorist losses, are set
out below. They are expressed as a percentage of capacity and after standard
Name's expenses including agent's fees and commission.

                                            Current Forecast                  Previous Forecast
Year of      Capacity     Amlin     Including 11     Excluding 11     Including 11     Excluding 11
account                   Share     September        September        September        September
             £m               %                  % to %                            % to %

2001         574.5        69.6      (4.0) to 1.0     10.5 to 15.5     (6.0) to (1.0)   8.8 to 13.8
2000         423.4        55.8      (4.0) to 1.0     (1.0) to 4.0     (4.0) to 1.0     (1.0) to 4.0


Syndicate 2001 has continued to experience improvement in its underlying
performance for the 2001 year of account. This year was adversely affected by
losses from the 11 September terrorist events as previously announced. The
estimated impact of these events is largely unchanged during the quarter, based
on the assumptions set out in the 31 December 2001 accounts.


Discontinued Syndicates

Amlin's principal syndicate trading in 2000 was Syndicate 2001. Syndicates 902
and 1141 ceased to trade in 2000.

Syndicate 1141 continued to experience greater than normal loss development in
the third quarter and the forecasts have been adjusted to reflect this
development. The impact of Syndicate 1141's movements on Amlin plc's financial
performance is expected to be more than offset by improvements in Syndicate
2001.

    Syndicate          Capacity      % owned by Amlin    Latest forecasts     Previous Forecast
       No                 £m                                  % to %               % to %

       902               37.6              56.7%         (32.5) to (27.5)     (32.5) to (27.5)
      1141               76.3              69.7%         (43.0) to (38.0)     (35.0) to (30.0)


Charles Philipps, Chief Executive of Amlin, commented:

'The improving picture from the 2001 year, combined with the very strong trading
conditions experienced in the year to date, are encouraging signs for our
performance this year and next.'

Enquiries:

Charles Philipps, Chief Executive, Amlin plc              020 7746 1050
Richard Hextall, Finance Director, Amlin plc              020 7746 1054
David Haggie, Haggie Financial                            020 7417 8989





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