Amlin Fortis buyout 'expensive' - JP Morgan
Analysts at JP Morgan have said that Amlin's purchase of Fortis Corporate Insurance from the Dutch government for €350m was "expensive".
"The purchase price represents 1.4x '08 book [value], 46% of premiums and given the 2008 combined ratio of 102% in 2008 (94% 2007) looks rather expensive," said Andrew Hughes, an analyst at the USOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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