Insurer and reinsurer Amlin posted a 23 per cent rise in profit, benefitting from a year with few major catastrophe claims.

Amlin, Lloyd’s of London’s largest listed British underwriter, said European flooding, hail in France and windstorms in Britain and Northern Europe had meant a small loss in Amlin Re Europe and impacted results in the UK.

The FTSE-250 company’s pre-tax profit increased to £325.7 million (€394.8 million) for the year ended December 31st, from £264.2 million a year earlier. The underwriter said it would pay a dividend of 26 pence per share, up 8.3 per cent from last year.

Reuters