Benfield Group Limited today reported end of year pre-tax profits of £90.4m from £59.3m in 2003, a 52% increase.

The reinsurer declared that operating revenues had decreased by 1% to £304.6m, from £307.7m in 2003.

Trading margin, as a percentage of operating revenue, increased to 29.1% from 28.7% the previous year.

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