Premiums written rise over a fifth
Specialist Lloyd's insurer Advent Capital has reported a £5.5m loss during the first quarter of this year.
Over the same period last year, the company posted a profit of £0.5m.
In a statement it said its poor result reflected the second worst quarter in the industry's history for single risk losses.
Advent's gross written premiums rose 21.3 percent to £62m. Its underwriting loss ballooned from £0.9m last year to £6.4m, and its COR slipped from 104.1 to 111.5 per cent.
Advent chairman Brian F. Caudle insisted the company was well-positioned in its respective markets.
He said: "We continue to maintain our focus on underwriting profitability while remaining alert to the changing business environment that our Lloyd's and Bermuda operations may have to contend with."
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
