Credit Suisse has informed its clients that it has upgraded the status of Amlin to “outperform” from “neutral”, following a market review.
Despite concerns about the possibility of another active h …
Credit Suisse has informed its clients that the status of Amlin has been upgraded to “outperform” from “neutral”, following a market review, according to reports.
Amlin emerged strongly from 2005, with the Lloyd's-based insurer announcing a 2005 profit before tax of £182.7m, up 42% on the previous year despite incurring catastrophe losses of £130.1m.
Despite concerns about the possibility of another active hurricane season, so far storm activity has been relatively muted and investors are already predicting strong profits for the year resulting from the strong rate hikes achieved in the aftermath of KRW.
