Catlin Group, the property and casualty insurer and reinsurer, has reported a 10% rise in gross premiums written in the period to April 30 2006 over the corresponding period of 2005.
Weighted average premiums rates for all classes of business written by the group increased by 9%, while weighted average premium rates for hurricane impacted classes of business increased by 28%. Weighted average premium rates for non-hurricane impacted business decreased by 1%.
The company said rates continue to increase significantly in catastrophe exposed classes of property reinsurance where cedants seek significant levels of capacity.
Catlin said loss experience during 2006 has been in line with expectations across the group's overall portfolio.
Chief executive Stephen Catlin said: "We have made a good start to the year. Looking ahead to the second half, we have reduced our exposure to hurricane-related events, while taking advantage of the favourable rating environment in catastrophe classes of business.
"At the same time we are making strong progress with our multi-platform strategy for driving growth in the longer term based on uncorrelated risk. I look forward with confidence".
Catlin will announce its results for the six months to June 30 2006 on Sept 8.
