AGM Statement

Amlin PLC
22 May 2003

                                   AMLIN PLC


•     Underwriting performance improving

•     Trading conditions remain strong



At its Annual General Meeting held today, Amlin, the leading Lloyd's insurer,
provided an update to Syndicate 2001's forecasts for the 2001 and 2002 years of
account and commented on current trading as set out below.



Current trading



Amlin is continuing to experience excellent trading conditions in all of its
principal lines of business.  Syndicate 2001 has £1.1 billion of capacity in the
current year, of which £860 million is Amlin's share.  The syndicate's gross
written premium (net of brokerage) was £425 million in the first quarter, up 39%
over first quarter income in 2002.  The rating environment remained strong in
all core lines of business and the reinsurance programme for 2003 was again
successfully placed without an increase in reinsurance premium as a proportion
of forecast written premium.



Forecasts



The forecasts for the 2001 and 2002 years of account, which are expressed as a
percentage of capacity, are as follows:


                                                                Current forecasts    Previous forecasts
  Year of account          Capacity           Amlin share             % to %               % to %
                              £m                   %

        2001                574.5                 69.6             (1.5) to 3.5         (1.5) to 3.5


        2002                800.0                 72.3             12.0 to 17.0         11.0 to 16.0


2001 year of account



Amlin expects this year of account to make a small profit, notwithstanding the
material losses incurred from the 11 September 2001 terrorist atrocities.  The
estimated losses from 11 September 2001 are consistent with those estimated at
the last quarter and assume that the World Trade Center loss was one occurrence.
  However, there are now some encouraging signs of improvement in expected
settlement trends on the property accounts.




2002 year of account



This year of account is developing well.  Loss experience to date has been low,
with a gross incurred loss ratio at 31 March 2002 of 24.7%, compared with 45.7%
(excluding 11 September 2001 losses) for the 2001 year of account at the same
stage.  A considerable amount of business remains on risk for this year of
account, but Amlin expects the forecast to continue to improve if a normal level
of loss development is experienced.



Commenting on the state of the business, at the Annual General meeting Roger
Taylor, Chairman, said: 'Amlin has never been in better shape.  The contribution
of our underwriting expertise and our efficient capital strategy is expected to
deliver further superior returns on equity going forward.'





Enquiries:



Charles Philipps, Amlin plc                                020 7746 1000

Richard Hextall, Amlin plc                                 020 7746 1000

David Haggie, Haggie Financial Limited                     020 7417 8989



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