Bermudian insurer ACE has revealed its second-quarter profit more than trebled, boosted by higher premium rates.
The global insurance specialist said its second-quarter profit was $371m (£227m) compared with $104m (£63m) a year earlier.
Net premiums written rose by 28% to $2.4 billion (£1.5 billion), helped by rising rates.
The growth in profit was also helped by an $85m (£53m) gain from selling some of its investments, compared with a loss of $125m (£76m) in the same quarter last year.
As a result ACE reported $1.01 (£0.63) dividend per share for the quarter.
