Atrium Underwriting announced profit after tax for the year ending December 2002 was £3.4m against a loss of £15.5m a year ago.
Atrium Underwriting announced profit after tax for the year ending December 2002 was £3.8m against a loss of £15.5m a year ago.
Operating profit before goodwill amortisation was £1.7m against a loss of £6.6m the last time around.
The group said the 2003 underwriting year looks set to produce excellent results on significantly increased capacity.
An assumed 12% return on capacity for the 2002 underwriting portfolio would generate a £14m pre-tax underwriting profit, the group said.
Chairman Sir Raymond Johnstone announced he is to stand down in July and will be succeeded by Charles Bailey, while Steve Cook has been named managing director and Simon Curtis group finance director.
