ASTON MARTIN LAGONDA GLOBAL HOLDINGS PLC (AML)

This was the second year running I had attended the AGM of insurance company Amlin, held in their offices in the City of London. You can read last year’s report here and it was headed “Surviving Catastrophes” with good reason because the 2011 year’s results were fairly dire due to too many earthquakes, floods, cyclones, tornados, etc. Yes Amlin is heavily exposed to catastrophe insurance and hence their financial results are somewhat unpredictable. But last year the world was quieter, and ...

Yesterday I attended the Annual General Meeting of Amlin Plc at their offices in the City of London. Amlin is a general insurer and reinsurer. With significant exposure to catastrophe events, last year was not uneventful – Japanese tsunami, major earthquakes in New Zealand, US tornados, to name just a few events which resulted in very large claims. The result was a “combined ratio” of 108% and an overall loss for the year. There were about 100 shareholders present. The meeting was ...