Atrium Underwriting PLC – Trading Statement

ATRIUM – Trading Statement
Current trading
Atrium has reported  “a solid start to 2007. Market conditions, which are broadly in line with our expectations at the start of the year, continue to offer the prospect of attractive underwriting returns, if somewhat reduced from those targeted during the peak conditions of recent years.  Our managed syndicates have reviewed their 2007 year of account business plans and completed their initial business plans for 2008. 2007 income is slightly below the original plans for both syndicates and premium income plans for 2008 show further modest reductions from those for 2007 reflecting the underwriters' views that rates, terms and conditions will continue to weaken.

Underwriting portfolio
For 2007 our underwriting portfolio constituted participations in just five syndicates, including 570 and 609, and totalled some £152m of capacity. In the coming months we will be reviewing the initial 2008 business plans of those syndicates to decide portfolio constitution for that year.

Finance Director
I am pleased to say that we have made good progress in identifying our new Finance Director and expect to announce the appointment before our interim announcement in September. Simon Curtis' leaving date has now been agreed as the end of September 2007 allowing him to see through the
Group’s half year results announcement.

Half year results
We will report our group results for the six months ending 30 June 2007 on Tuesday 18th September 2007. "