Beazley's Lloyd's Syndicate 623 reported a profit of 0.6% on capacity for the 2000 year of account.
The forecast for the 2001 year of account is breakeven, with the estimate for the World Trade Centre loss being £100m gross and £20m net.
The forecast for the 2002 year of account is a 10%-15% profit.
Beazley chief executive Andrew Beazley said: "We are pleased that we were able to deliver profits for the closed year."
"The year 2001 benefited from the improvement in terms and conditions and the current favourable trading environment is expected to continue throughout this year."
