Trading Statement

Amlin PLC
29 November 2006



AMLIN PLC

PRESS RELEASE

For immediate release

29th November, 2006


TRADING STATEMENT



Amlin plc ('Amlin' or 'the Group'), the leading insurer, today provided an
update on current trading as set out below.


Premium written and pricing

The Group's gross written premium (after brokerage costs) in the nine months
ended 30 September 2006 was £822 million, up 25% over the same period in 2005.


Of this, Syndicate 2001's gross written premium was £730 million (at rates of
$1.87:£1), compared to £657 million for the previous year. This includes
additional insurance business written for Amlin Bermuda of £26 million. Amlin
Bermuda has written £118 million (at rates of $1.87:£1) of new premium income to
the Group, including the cessions referred to above.


Amlin Bermuda has written mainly reinsurance business, where the rating
environment has been strong, and where Syndicate 2001 has experienced some of
its largest rate increases in the year to date.


The average renewal rate increase for Syndicate 2001 for the first nine months
was 7.9% with renewal retention at 79%. This is analysed by division below:

                                              Renewal rate               Renewal
                                                change %               retention
                                                                         ratio %

Aviation                                            0.3                     81
Marine                                              5.4                     79
Non-Marine                                         12.4                     81
UK Commercial                                      (2.9)                    71
Average                                             7.9                     79


The non-marine and marine markets, where the rating environments have been
strongest, have continued to be growth areas for the Group in the third quarter.
The aviation division remains under pressure on the airline account and the UK
commercial market continues to see competitive pressure on rates. Accordingly,
following our underwriting strategy we have reduced our business in these areas.


Claims incidence

The level of claims incurred to 30 September for the 2006 underwriting year is
10.5% (based on claims incurred divided by premium to date after brokerage), the
lowest on record. By comparison the last lowest year at 11.9% was the 2003
underwriting year. Including Amlin Bermuda, which so far has had negligible
claims, the Group's incurred claims ratio is 9.9%. This reflects a benign
hurricane season and no major catastrophe in the year to date. Equally, non
catastrophe classes have performed well in the second half of 2006 and the prior
year run off performance in the third quarter was ahead of expectations.


Investment returns

Investment performance in the third quarter of 2006 was strong, with equity
returns for the first nine months reaching 9.3% and stronger bond performance
following falls in short dated US$ yields in the third quarter. For the
Syndicate, short sterling bonds returned 1.3% (H1 2006: 0.8%) and US dollars
2.7% (H1 2006: 0.3%) in the quarter.


$650 million of Amlin Bermuda's capital was invested in US bonds which returned
0.9% in the third quarter.


The weighted average return on average cash and investments, of £2.2 billion,
was 3.3% to the end of October.


We increased the equity content of our portfolio by £50 million at the end of
June and a further £26 million in October.



Charles Philipps. Chief Executive of Amlin added:

'2006 performance to date has exceeded expectations owing to an exceptionally
low level of claims in a year when we have increased premiums, particularly for
catastrophe exposed business. If this continues, we expect the full year result
to be well ahead of current market forecasts.'






Enquiries:

Charles Philipps, Chief Executive, Amlin plc      0207 746 1000
Richard Hextall, Finance Director, Amlin plc      0207 746 1000
Hannah Bale, Head of Communications, Amlin plc    0207 746 1000
David Haggie, Haggie Financial Limited            0207 417 8989 / 07768 332486




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