Syndicate Results

Amlin PLC
15 November 2004


PRESS RELEASE
     
DATE   15 November 2004


CONTINUED IMPROVEMENT IN AMLIN SYNDICATE FORECASTS

Amlin, the leading Lloyd's insurer, today updated its Syndicate 2001 forecasts
for the 2002 and 2003 years of account and commented on current trading as set
out below.

Current trading

Trading conditions remained good through the third quarter.  Syndicate 2001's
gross written premium income (net of brokerage) for the nine months to 30
September 2004 was £690 million (at rates $1.81:£1).  This compares to £667
million for the same period in the previous year, net of quota share reinsurance
and converted at the same exchange rate.

The average renewal rate reduction for the year to 30 September was 3%, weighted
across Syndicate 2001's premium by business class.

Amlin's estimate of the gross and net ultimate claims arising from Hurricanes
Charley, Frances, Ivan and Jeanne together with Typhoon Songda remains unchanged
from that announced on 8th October 2004.  Amlin continues to believe that the
impact of these losses on the industry will lead to reduced downward pressure on
rates in 2005.

Syndicate 2001 Forecasts

Syndicate 2001's forecasts for the 2002 and 2003 years of account, which are
expressed below as a percentage of capacity after standard personal expenses,
have both improved.
                                Amlin plc 
  Year of        Capacity         share         Current          Previous 
  account          £m               %          forecasts         forecasts
                                              
   2002            800            72.3         17% to 22%       16% to 21%
   2003           1000            86.0         14% to 19%      12.5% to 17.5%

Both years of account have continued to develop well.  The hurricane and typhoon
losses have been largely borne by the 2004 year of account but, for Amlin plc,
these will be significantly offset by the improvements in the 2002 and 2003
years of account.  The 2002 and 2003 years have continued to experience low
levels of claims activity.  Amlin expects the forecasts to continue to improve
if a normal level of loss development is experienced.

The forecasts also benefited from strong investment returns in the third quarter
from syndicate investment portfolios.  The total of syndicate assets available
for investment  at 30 September was £1.2 billion and a return of approximately
1.9% was achieved in the third quarter.

Charles Philipps, Chief Executive added, 'We are confident that Amlin will
deliver another good result in 2004.  Given the extreme hurricane activity in
the year, our overall performance reflects the value of our diversity, our
prudent approach to risk management and our sound business model'.


Enquiries:

Charles Philipps, Amlin plc                            020 7746 1000
Richard Hextall, Amlin plc                             020 7746 1000
Hannah Bale, Amlin plc                                 020 7746 1118
David Haggie, Haggie Financial Limited                 020 7417 8989


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