Chaucer Holdings has recorded a £0.3m profit in the first half of the year
The Lloyd's insurer generated gross written premiums of £183.3m up from £122.3m last year.
Managing director Ewen Gilm ...
Chaucer Holdings has recorded a £0.3m profit in the first half of the year.
The Lloyd's insurer generated gross written premiums of £183.3m up from £122.3m last year.
Managing director Ewen Gilmour said: "There is little doubt that we are now experiencing the most exciting underwriting market conditions for many years. We have every confidence that this will continue into 2003. We also believe that low investment returns mean that at last the insurance market is forced to write business for profit.
"The issues facing the worldwide insurance industry and lack of full recognition of losses in respect of corporate governance, asbestos and liability issues in the US suggest a hard market for some time to come.
"Although it is too early to predict the duration of the current market, we certainly view the future with confidence."
The group posted an operating profit of £5.1m in the first half of the year after a loss of £6.9m a year.
As a result of its improved performance, the company expects to resume dividend payments at the end of the year.
