Amlin Plc
AMLIN PLC
PRESS RELEASE
For immediate release
22 October 2007
Amlin upgraded by AM Best
Amlin, the leading Lloyd's insurer, is pleased to announce that AM Best have
today upgraded the credit ratings of Amlin plc, Lloyd's Syndicate 2001 and Amlin
Bermuda.
Amlin-owned Syndicate 2001 is upgraded to 'A+' (Superior) from 'A' (Excellent).
AM Best cited the syndicate's superior operating performance, strong reserves
and robust market profile derived from its well diversified account. The agency
also noted the underlying strong risk management framework which is fully
embedded across the group's operations.
Amlin Bermuda's financial strength rating has been upgraded to 'A' (Excellent)
from 'A-' (Excellent), reflecting its prudent approach to underwriting and
exposure monitoring, the diversity of its business, the proven ability to
leverage the strong relationships between its management and broker channels and
prospects for 2007-8.
Amlin plc's issuer credit rating is upgraded to 'a-' from 'bbb+', and the debt
ratings to 'bbb+' from 'bbb'.
Amlin Chief Executive, Charles Philipps commented: 'We are pleased with these
upgrades across the board which endorse Amlin's outstanding strengths in
underwriting, risk management and financial management.'
Enquiries:
-0-
*T
Hannah Bale
Group Communications, Amlin plc 020 7746 1118
David Haggie/Peter Rigby
Haggie Financial 020 7417 8989
*T
Notes to Editors:
Amlin plc is a recognised leader in the London insurance and reinsurance market,
providing a global client base with risk management solutions. Amlin specialises
in four business areas: Aviation; Marine; UK commercial; and International
property and casualty insurance and reinsurance. A FTSE-250 quoted company,
Amlin owns 100% of its £1bn capacity for 2007, which is written through Lloyd's
Syndicate 2001. Amlin's Syndicate is rated 'A+' (Superior) by AM Best and 'A1'
(Stable) by Moody's.
In November 2005, the company established Amlin Bermuda, a reinsurance business
capitalised at US$1 billion and rated A (Excellent) by A.M. Best and A by
Standard & Poor's.
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