Lloyd's insurer Chaucer Holdings plc has reported a pretax loss of £31.6m for 2001, compared to a loss of £5.1m the year before.
In view of the results, the company says it is not recommending a final dividend. Last year a final dividend of 1p per share was paid.
The company's World Trade Centre losses are now thought to be £7m, lower than the previously estimated £8-12m.
Chaucer said it was also hit in 2001 by the sinking of the Petrobras platform, tropical storm Allison, the Air Lanka terrorism loss, and the Total petrochemical explosion at Toulouse.
The company added that it had experienced deterioration on its non-marine syndicate's 1998, 1999 and 2000 US liability account.
Managing director Ewen Gilmour commented: "We report results which have been severely affected by the events of 11 September and other insurance losses.
"However we are pleased to be able to reduce our initial estimate of losses from the events of 11 September and believe that Chaucer is in an excellent position to benefit from the current up-turn in rates across the market."
Gross written premiums for 2001 totalled £165.6m compared to £86.8m in 2000.
