Amlin P.L.C. reports pretax profit up $103 million over 2012

Amlin P.L.C. reported pretax profit of £325.7 million ($545.3 million) for 2013, up from £264.2 million ($442.3 million) a year previously.

The London-based insurer and reinsurer said Monday it had a combined ratio of 86% for 2013, compared with 89% in 2012.

Amlin reported gross written premiums of £2.47 billion ($4.14 billion) for 2013, a 2.5% increase from those of 2012.

The company said its investment income for 2013 was £160.4 million ($268.5 million), a 3.0% drop from 2012’s investment income.

Amlin said that at the Jan. 1 renewal, rates were down by an average 2.1% and catastrophe rates fell by 8.4% on average.

Amlin said that major catastrophe activity in 2013 was “relatively benign,” but said it did report losses of about £21.2 million ($35.5 million) from European flood, wind and hail losses.