News Column

Amlin Reports 8.0% Drop In Interim Pretax Profit But Raises Dividend

August 17, 2014

Samuel Agini

LONDON (Alliance News) - Amlin PLC Monday reported an 8.0% fall in first half pretax profit, hit by a GBP24.6 million foreign exchange swing, largely on the weakening of the dollar, as well as a 52% increase in large catastrophe losses.

In a statement, the insurer and reinsurer reported a GBP148.5 million pretax profit in the six months ended June 30, compared with GBP161.4 million in the corresponding period last year.

According to Amlin, analysts had forecast a range of GBP111.0 million to GBP159.0 million for its pretax profit, with the mean average at GBP143.0 million.

Amlin increased its interim dividend 3.8% to 8.1 pence from 7.8p.

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Source: Alliance News

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