Notice of AGM

Notice of AGM

Amlin Plc

AMLIN plc (“Amlin”)

RELEASE OF ANNUAL REPORT AND NOTICE OF AGM

The following documents have today been made available to shareholders:

1. 2012 Annual Report

2. Notice of 2013 Annual General Meeting

3. Form of Proxy for 2013 Annual General Meeting

Copies of the Annual Report and Notice of AGM may be viewed at the “Download Centre” of the Company’s website at www.amlin.com.

In accordance with Listing Rule 9.6.1, copies have been uploaded to the National Storage Mechanism and will shortly be available for inspection at www.hemscott.com/nsm.do.

COMPLIANCE WITH DTR 6.3.5 – EXTRACTS FROM THE 2012 ANNUAL REPORT

The information below, which is extracted from the 2012 Annual Report, is included solely for the purpose of complying with DTR 6.3.5. It should be read in conjunction with the Company’s Preliminary Announcement issued on 4 March 2013 (available at www.amlin.com). Together these constitute the material required by DTR 6.3.5 to be communicated to the media in unedited full text via a Regulatory Information Service. This material is not a substitute for reading the full 2012 Annual Report.

The information contained in this announcement and in the Preliminary Announcement does not constitute the Group’s statutory accounts, but is derived from those accounts.

Principal Risks and Uncertainties

Principal risks	Â	Nature of risk	Â	Key controls and mitigation strategies
Enterprise-level Risk		Risks associated with one or more of a portfolio of principal risks occurring and providing an aggregated impact on the organisation as a whole.		• Mitigation strategies for each underlying risk exposure as outlined below • Additionally, the risk management framework developed ensures that potential risk exposures are considered individually and in aggregation • Corporate Centre Risk maintain a risk profile within the Group’s ORSA providing an enterprise-wide view of risk exposures for the Group Executive and the Board • Stress testing of a combination of material risks to determine impact on capital • Reverse stress testing of the ultimate impact of combinations of material risks on business model viability and reputation
Underwriting – Catastrophe Risk		The risk of claims arising from inherent uncertainties in the occurrence of insurance losses associated with natural or man-made catastrophic events.		• Underlying strategy and diversity of exposure • Aggregate exposure limits • Probable maximum loss limits • Modelling of loss scenarios including stochastic DFA Modelling • Reinsurance programme
Underwriting – Attritional Risk		The risks of unexpected or unbudgeted increase in cost of small or large insurance claims.		• Underwriting authority limits per contract and peer review • Business planning processes • Technical pricing assessment and underwriting strategy • Reinsurance programme • Monitoring and performance review
Underwriting - Reserving Risk		The risk of unexpected or unbudgeted increase in claims emanating from business written where profit has been declared.		• Amlin Europe, Amlin Re Europe: Local actuarial and underwriting jointly produce reserves, supplemented by independent review by Group Actuarial and Corporate Centre Risk • Amlin Underwriting Limited, Amlin Bermuda: Underwriting and claims teams produce reserves, benchmarked by independent actuarial best estimates produced by Group Actuarial. Additional review and challenge from Corporate Centre Risk • Entity level reserves set in excess of actuarial best estimate • Reinsurance programme
Market Risk – Investment Market Volatility		The risk arising from fluctuations in values of investments.		• Investment policy and strategic asset allocation • Tactical asset allocation • Diversified portfolio • Modelling and monitoring of investment risk
Market Risk – Currency Fluctuation		Impact on the value of balance sheet or earnings arising from the movement in value of sterling against key non-functional currencies.		• Asset/liability matching for major currencies • Hedging of Amlin Bermuda US dollar and Amlin Europe euro net asset exposures • Sale of foreign currency profits
Credit Risk –Reinsurance Counterparty		The risk of loss if a counterparty fails to perform its obligations or fails to perform them in a timely fashion.		• Reinsurance selection and rating • Controls over exposure placed with reinsurer • Reinsurance debt credit control • Collateralised reinsurance
Credit Risk –Intermediary Counterparty		The risk of loss if an insurance or treasury intermediary fails to meet credit obligations in a timely fashion.		• Credit control procedures • Broker debt credit control
Liquidity Risk- (including Asset/Liability matching)		The risk arising from insufficient financial resources being available to meet liabilities as they fall due.		• Stress testing of liquidity needs arising from major catastrophe events • Maintaining sufficient liquidity in investment portfolio to address claims needs
Operational Risk		Risks resulting from inadequate or failed internal processes, people and systems, or from external events, including regulatory control failures.		• Procedural controls including workflow management implemented through management organisation • Monitoring of compliance with established procedures and processes • Employee manual and Human Resource policies • Risk event and near miss reporting process • Internal Model validation and data quality controls • Business Continuity Management planning
Strategic risk		Risks associated with the appropriateness of business strategy in the face of the external environment.		• Long-term strategies developed addressing diversification of underwriting platform • Acquisition due diligence and risk assessment processes • Risk event and near miss reporting process • Emerging risk reporting process

Directors’ Responsibility Statement pursuant to DTR 4

Pursuant to the Disclosure and Transparency Rules of the Financial Services Authority each of the directors, whose names and functions are listed in the section of the Annual Report entitled ‘Board of Directors’ confirm that, to the best of each person’s knowledge and belief:

The financial statements, prepared in accordance with IFRSs as adopted by the EU, give a true and fair view of the assets, liabilities, financial position and loss of the Group and Company; and

The directors’ report contained in the annual report includes a fair review of the development and performance of the business and the position of the Company and Group, together with a description of the principal risks and uncertainties that they face.

5 April 2013

Enquiries:

Mark Stevens	Â	020 7746 1000
Group Company Secretary
Amlin plc