Its net premiums written is almost flat from the same period last year, but its combined ratio declined to 97.6% from 98.2% in 2011, animportant increase of 60 basis points.
The larger pool of resources that an AMF would provide on a permanent basis to deal with such crises is animportant rationale for setting up such an institution.
"It is important to have an absolutely solid basis by which the whole of the House and the public can understand exactly the accountabilities and responsibilities of the secretary of state, " Baroness Williams said, as peers began the second day of committee stage consideration of the bill on 2 November 2011.