Lloyd's managing agency Amlin Underwriting is showing a decline in its profit and loss ratios for the 1998 year of account but the agency expects to achieve an improvement by 2000.
Better results in Amlin's commercial motor account during 1998 helped boost its forecast for its principal underwriting operation, syndicate 2001. Its forecast improved from -7% to +2% in 1998 to -6% to -1% in 1999.
Amlin syndicate 902 showed an improvement as a result of positive developments during its closed years of account. But its forecast still shows a decline from a profit of between 0% to 5% in 1998 to up to -4% in 1999.
Poor trading conditions in the non-marine market also affected forecasts for Amlin's syndicate 1141 during the 1998 year of account. Its forecast results showed a small improvement from -16% to 11% in 1998 to a loss of -13.5% to -8.5% in 1999.
Amlin predicts a silver lining for the year 2000 account. It said substantial rating increases are expected in its fleet motor business, and forecasts improvements in other areas of its business such as property, aviation and casualty.
