Atrium Underwriting today declared end of year pre-tax profits of £33m, up by 75% on...
Atrium Underwriting today declared end of year pre-tax profits of £33m, up by 75% on £18.8m at end of year 2003.
Profits from underwriting activities accounted for £20.9m, from managing agency activities for £11.7m and from investment activities for £1.2m.
Gross premiums written were £143m, 11% less than £160m the previous year.
The net combined ratio for the managed syndicate was 82%. At year-end 2003 it was 81%.
Chief executive Nick Marsh said: “I am very pleased to announce record profits and a 25% increase in full year dividend.
“Although underwriting conditions have come off their peak we believe we can still earn good underwriting margins. Atrium remains firmly on track to continue to deliver the returns our shareholders expect.”
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.
