Amlin renewal rate reduction 7.9%, retention 86%
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Lloyd's insurer Amlin said the renewal rate reduction for the four months to 30 April was 7.9% with renewal retention at 86%, but added that market conditions continue to be challenging.
Rates for 2008 have continued to soften in its non-marine, marine and Bermudian businesses, although margins remain 'acceptable' as rates come off historic peaks.
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Commercial and aviation lines are well positioned to benefit from an anticipated upturn, the group added.
Gross written premium, before deduction of brokerage, incepting in the first four months was £524.2m, 9.3% less than in the prior period.
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