Chaucer has reported an increase of 19% in gross written premium to £263.3m and a profit before tax increase of 79% to £35.8m, for the first half of 2005.

Ewen Gilmour, Chaucer's chief executive, said: "We see Hurricane Katrina as a market-changing event and are in a strong position to maximise opportunities that will arise. We now expect marine and non marine premium rates to rise by approximately 10% next year."

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