Syndicate Results

Amlin PLC
24 May 2002

                                  PRESS RELEASE

For immediate release
24 May 2002

                                    AMLIN PLC

•         Trading outlook remains strong
•         Quota share facilities doubled to £100 million: new arrangement with
          Montpelier Re
•         Good underlying performance

Amlin Underwriting Limited, the leading managing agency owned by Amlin plc, has
updated its forecasts in respect of the 2000 year of account and has published
its preliminary forecast in respect of the 2001 year of account.  It has also
arranged increased quota share reinsurance for the 2002 and 2003 years of
account.

Trading conditions

Trading conditions in the year to date remain strong and in line with those set
out in the Company's recently published Annual Report.  Amlin believes that
these excellent conditions will continue for the remainder of 2002, into 2003
and that a favourable underwriting environment could endure for longer.

Quota share facilities

Due to the rate increases experienced to date, Amlin believes that premium
income will exceed its capacity of £800 million and that, for 2003, it will need
up to £1.1 billion of capacity.  It has therefore arranged a new £50 million
qualifying quota share reinsurance facility with Montpelier Re.  With this and
the £50 million XL Re facility announced in March 2002, Syndicate 2001 has the
ability to underwrite up to £900 million of premium income for the 2002 year of
account.  These arrangements have also been secured for the 2003 year of
account.

2001 year of account preliminary forecast

Syndicate 2001 continued to experience improvement in its underlying performance
in the 2001 year of account, although was adversely affected by losses from the
11 September terrorist events as previously announced.  The impact of these
events, at Syndicate 2001 level, on the 2001 year of account is estimated to be
$112 million, or 13.3% of capacity, which is in line with the previously
announced estimate.

Preliminary forecasts for the 2001 year of account results, both including and
excluding the effects of 11 September 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.


     Capacity £m           % owned by Amlin            Forecast including        Forecast excluding 11
                                                      11 September losses           September losses % 
                                                             % to %                       to %

        574.5                    69.6%                 (2.0) % to (7.0)%             6.3% to 11.3%

The forecast result is encouraging in the light of the trading improvements
being experienced in 2002 and it illustrates the strong underlying performance
of the business.  The forecast has been made at an earlier stage than usual and
a considerable amount of business remains on risk.  Additionally, there remains
uncertainty concerning losses from 11 September as set out in the 2001 Annual
Report.  However, if a 'normal' level of loss development is experienced and if
there is no material adverse development of losses from 11 September, Amlin
would expect the result to be better than the mid-point of the estimated range.

2000 year of account forecasts

Amlin's principal syndicate trading in 2000 was Syndicate 2001.  Syndicates 902
and 1141 ceased to trade in 2000.  The 2000 year of account has also been
affected by the 11 September terrorist attacks.  Excluding losses from 11
September, Syndicate 2001 is forecast to deliver a profit, at the mid-point of
the range of 2.5% of capacity.

    Syndicate          Capacity        % owned by Amlin      Latest forecasts        Previous Forecast

       No                 £m                                      % to %
       902               37.6                56.7%           (32.5) to (27.5)        (32.5) to (27.5)
      1141               76.3                69.7%           (31.0) to (26.0)        (28.0) to (23.0)
      2001               423.3               55.8%             (4.0) to 1.0            (4.0)  to 1.0
      Total              537.2

Charles Philipps, Chief Executive of Amlin, says:

'Trading conditions remain buoyant in our marketplace and we are delighted that
the new £50 million facility with Montpelier Re enables us to increase capacity
further for 2002 and 2003.  We are well placed to take full advantage of these
market conditions.'

Enquiries:

Charles Philipps, Chief Executive, Amlin plc            020 7746 1050
David Haggie, Haggie Financial                          020 7417 8989



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